Enphase Energy (ENPH - Free Report) closed the most recent trading day at $18.40, moving -1.23% from the previous trading session. This move lagged the S&P 500's daily gain of 0.95%. Elsewhere, the Dow gained 0.94%, while the tech-heavy Nasdaq added 0.8%.
Heading into today, shares of the solar technology company had gained 22.41% over the past month, outpacing the Oils-Energy sector's loss of 1.31% and the S&P 500's gain of 2.47% in that time.
ENPH will be looking to display strength as it nears its next earnings release. On that day, ENPH is projected to report earnings of $0.14 per share, which would represent year-over-year growth of 600%. Meanwhile, our latest consensus estimate is calling for revenue of $121.19 million, up 59.67% from the prior-year quarter.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $0.52 per share and revenue of $483.76 million. These results would represent year-over-year changes of +420% and +53.01%, respectively.
Any recent changes to analyst estimates for ENPH should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ENPH currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that ENPH has a Forward P/E ratio of 35.83 right now. For comparison, its industry has an average Forward P/E of 18.79, which means ENPH is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 56, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Enphase Energy (ENPH - Free Report) closed the most recent trading day at $18.40, moving -1.23% from the previous trading session. This move lagged the S&P 500's daily gain of 0.95%. Elsewhere, the Dow gained 0.94%, while the tech-heavy Nasdaq added 0.8%.
Heading into today, shares of the solar technology company had gained 22.41% over the past month, outpacing the Oils-Energy sector's loss of 1.31% and the S&P 500's gain of 2.47% in that time.
ENPH will be looking to display strength as it nears its next earnings release. On that day, ENPH is projected to report earnings of $0.14 per share, which would represent year-over-year growth of 600%. Meanwhile, our latest consensus estimate is calling for revenue of $121.19 million, up 59.67% from the prior-year quarter.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $0.52 per share and revenue of $483.76 million. These results would represent year-over-year changes of +420% and +53.01%, respectively.
Any recent changes to analyst estimates for ENPH should also be noted by investors. Recent revisions tend to reflect the latest near-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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. ENPH currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that ENPH has a Forward P/E ratio of 35.83 right now. For comparison, its industry has an average Forward P/E of 18.79, which means ENPH is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 56, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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