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Enphase Energy (ENPH) Gains But Lags Market: What You Should Know
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Enphase Energy (ENPH - Free Report) closed the most recent trading day at $204.04, moving +0.85% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.64%. Meanwhile, the Dow gained 1.08%, and the Nasdaq, a tech-heavy index, added 0.45%.
Heading into today, shares of the solar technology company had lost 19.58% over the past month, lagging the Oils-Energy sector's loss of 4.55% and the S&P 500's loss of 0.83% in that time.
Investors will be hoping for strength from Enphase Energy as it approaches its next earnings release. On that day, Enphase Energy is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 13.73%. Our most recent consensus estimate is calling for quarterly revenue of $403.06 million, up 52.19% from the year-ago period.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $2.26 per share and revenue of $1.37 billion. These results would represent year-over-year changes of +64.96% and +77.24%, respectively.
It is also important to note the recent changes to analyst estimates for Enphase Energy. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 has moved 0.54% higher within the past month. Enphase Energy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 89.41 right now. Its industry sports an average Forward P/E of 69.78, so we one might conclude that Enphase Energy is trading at a premium comparatively.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.
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Enphase Energy (ENPH) Gains But Lags Market: What You Should Know
Enphase Energy (ENPH - Free Report) closed the most recent trading day at $204.04, moving +0.85% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.64%. Meanwhile, the Dow gained 1.08%, and the Nasdaq, a tech-heavy index, added 0.45%.
Heading into today, shares of the solar technology company had lost 19.58% over the past month, lagging the Oils-Energy sector's loss of 4.55% and the S&P 500's loss of 0.83% in that time.
Investors will be hoping for strength from Enphase Energy as it approaches its next earnings release. On that day, Enphase Energy is projected to report earnings of $0.58 per share, which would represent year-over-year growth of 13.73%. Our most recent consensus estimate is calling for quarterly revenue of $403.06 million, up 52.19% from the year-ago period.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $2.26 per share and revenue of $1.37 billion. These results would represent year-over-year changes of +64.96% and +77.24%, respectively.
It is also important to note the recent changes to analyst estimates for Enphase Energy. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 has moved 0.54% higher within the past month. Enphase Energy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 89.41 right now. Its industry sports an average Forward P/E of 69.78, so we one might conclude that Enphase Energy is trading at a premium comparatively.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 156, putting it in the bottom 39% 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.