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Enphase Energy (ENPH) Gains But Lags Market: What You Should Know
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In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $227.70, marking a +0.25% move from the previous day. The stock lagged the S&P 500's daily gain of 1.47%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, added 7.94%.
Heading into today, shares of the solar technology company had lost 9.74% over the past month, lagging the Oils-Energy sector's gain of 1.59% and the S&P 500's gain of 7.41% in that time.
Investors will be hoping for strength from Enphase Energy as it approaches its next earnings release, which is expected to be February 7, 2023. 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%. Our most recent consensus estimate is calling for quarterly revenue of $704.92 million, up 70.8% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Enphase Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 1.93% lower. Enphase Energy is currently a Zacks Rank #4 (Sell).
Digging into valuation, Enphase Energy currently has a Forward P/E ratio of 42.38. Its industry sports an average Forward P/E of 37.53, so we one might conclude that Enphase Energy is trading at a premium comparatively.
Also, we should mention that ENPH has a PEG ratio of 0.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ENPH's industry had an average PEG ratio of 0.91 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Enphase Energy (ENPH) Gains But Lags Market: What You Should Know
In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $227.70, marking a +0.25% move from the previous day. The stock lagged the S&P 500's daily gain of 1.47%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, added 7.94%.
Heading into today, shares of the solar technology company had lost 9.74% over the past month, lagging the Oils-Energy sector's gain of 1.59% and the S&P 500's gain of 7.41% in that time.
Investors will be hoping for strength from Enphase Energy as it approaches its next earnings release, which is expected to be February 7, 2023. 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%. Our most recent consensus estimate is calling for quarterly revenue of $704.92 million, up 70.8% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Enphase Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 1.93% lower. Enphase Energy is currently a Zacks Rank #4 (Sell).
Digging into valuation, Enphase Energy currently has a Forward P/E ratio of 42.38. Its industry sports an average Forward P/E of 37.53, so we one might conclude that Enphase Energy is trading at a premium comparatively.
Also, we should mention that ENPH has a PEG ratio of 0.97. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ENPH's industry had an average PEG ratio of 0.91 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 49, putting it in the top 20% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.