In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $45.49, marking a -0.15% move from the previous day. This change lagged the S&P 500's daily gain of 0.43%. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, added 0.75%.
Wall Street will be looking for positivity from ENPH as it approaches its next earnings report date. On that day, ENPH is projected to report earnings of $0.14 per share, which would represent a year-over-year decline of 22.22%. Meanwhile, our latest consensus estimate is calling for revenue of $124.37 million, down 7.25% from the prior-year quarter.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $1.03 per share and revenue of $699.47 million. These results would represent year-over-year changes of +8.42% and +12.03%, respectively.
Investors might also notice recent changes to analyst estimates for ENPH. 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.
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 remained stagnant. ENPH is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, ENPH currently has a Forward P/E ratio of 44.31. For comparison, its industry has an average Forward P/E of 27.53, which means ENPH is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% 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.
To follow ENPH in the coming trading sessions, be sure to utilize Zacks.com.
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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.
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In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $45.49, marking a -0.15% move from the previous day. This change lagged the S&P 500's daily gain of 0.43%. Meanwhile, the Dow gained 0.5%, and the Nasdaq, a tech-heavy index, added 0.75%.
Wall Street will be looking for positivity from ENPH as it approaches its next earnings report date. On that day, ENPH is projected to report earnings of $0.14 per share, which would represent a year-over-year decline of 22.22%. Meanwhile, our latest consensus estimate is calling for revenue of $124.37 million, down 7.25% from the prior-year quarter.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $1.03 per share and revenue of $699.47 million. These results would represent year-over-year changes of +8.42% and +12.03%, respectively.
Investors might also notice recent changes to analyst estimates for ENPH. 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.
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 remained stagnant. ENPH is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, ENPH currently has a Forward P/E ratio of 44.31. For comparison, its industry has an average Forward P/E of 27.53, which means ENPH is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% 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.
To follow ENPH in the coming trading sessions, be sure to utilize Zacks.com.
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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