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Enphase Energy (ENPH) Gains As Market Dips: What You Should Know
Enphase Energy (ENPH - Free Report) closed the most recent trading day at $212.95, moving +1.15% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.47%. At the same time, the Dow added 0.02%, and the tech-heavy Nasdaq lost 15.51%.
Coming into today, shares of the solar technology company had lost 4.9% in the past month. In that same time, the Oils-Energy sector lost 4.88%, while the S&P 500 lost 2.53%.
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 $1.20 per share, which would represent year-over-year growth of 55.84%. Meanwhile, our latest consensus estimate is calling for revenue of $720.66 million, up 63.31% from the prior-year quarter.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $5.48 per share and revenue of $3.16 billion. These results would represent year-over-year changes of +18.61% and +35.54%, respectively.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.85% lower within the past month. Enphase Energy is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Enphase Energy's current valuation metrics, including its Forward P/E ratio of 38.45. This represents a premium compared to its industry's average Forward P/E of 34.14.
Investors should also note that ENPH has a PEG ratio of 0.85 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Solar was holding an average PEG ratio of 0.85 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 54, which puts 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.