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Enphase Energy (ENPH) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $265.49, marking a -0.71% move from the previous day. This move lagged the S&P 500's daily gain of 1.75%. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, added 7.84%.
Coming into today, shares of the solar technology company had lost 16.6% in the past month. In that same time, the Oils-Energy sector lost 3.11%, while the S&P 500 lost 4.4%.
Enphase Energy will be looking to display strength as it nears its next earnings release. In that report, analysts expect Enphase Energy to post earnings of $1.28 per share. This would mark year-over-year growth of 75.34%. Meanwhile, our latest consensus estimate is calling for revenue of $704.92 million, up 70.8% from the prior-year quarter.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $4.41 per share and revenue of $2.31 billion. These results would represent year-over-year changes of +82.99% and +66.83%, respectively.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.88% higher. Enphase Energy is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 60.62. For comparison, its industry has an average Forward P/E of 50.17, which means Enphase Energy is trading at a premium to the group.
We can also see that ENPH currently has a PEG ratio of 1.28. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ENPH's industry had an average PEG ratio of 1.47 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 193, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Enphase Energy (ENPH) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $265.49, marking a -0.71% move from the previous day. This move lagged the S&P 500's daily gain of 1.75%. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, added 7.84%.
Coming into today, shares of the solar technology company had lost 16.6% in the past month. In that same time, the Oils-Energy sector lost 3.11%, while the S&P 500 lost 4.4%.
Enphase Energy will be looking to display strength as it nears its next earnings release. In that report, analysts expect Enphase Energy to post earnings of $1.28 per share. This would mark year-over-year growth of 75.34%. Meanwhile, our latest consensus estimate is calling for revenue of $704.92 million, up 70.8% from the prior-year quarter.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $4.41 per share and revenue of $2.31 billion. These results would represent year-over-year changes of +82.99% and +66.83%, respectively.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.88% higher. Enphase Energy is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 60.62. For comparison, its industry has an average Forward P/E of 50.17, which means Enphase Energy is trading at a premium to the group.
We can also see that ENPH currently has a PEG ratio of 1.28. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ENPH's industry had an average PEG ratio of 1.47 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 193, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.