Back to top

Image: Bigstock

Enphase Energy (ENPH) Stock Moves -0.51%: What You Should Know

Read MoreHide Full Article

Enphase Energy (ENPH - Free Report) closed the most recent trading day at $224.21, moving -0.51% from the previous trading session. This change was narrower than the S&P 500's 1.53% loss on the day. Elsewhere, the Dow lost 1.72%, while the tech-heavy Nasdaq lost 3.27%.

Coming into today, shares of the solar technology company had gained 1.06% in the past month. In that same time, the Oils-Energy sector gained 2.96%, while the S&P 500 lost 1.28%.

Wall Street will be looking for positivity from Enphase Energy as it approaches its next earnings report date. The company is expected to report EPS of $1.20, up 55.84% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $720.53 million, up 63.28% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $5.46 per share and revenue of $3.17 billion, which would represent changes of +18.18% and +35.95%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for Enphase Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 4.51% lower. Enphase Energy is currently a Zacks Rank #3 (Hold).

Investors should also note Enphase Energy's current valuation metrics, including its Forward P/E ratio of 41.3. This represents a premium compared to its industry's average Forward P/E of 34.17.

It is also worth noting that ENPH currently has a PEG ratio of 0.91. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Solar stocks are, on average, holding a PEG ratio of 0.91 based on yesterday's closing prices.

The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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 to follow all of these stock-moving metrics, and more, in the coming trading sessions.

See More Zacks Research for These Tickers

Normally $25 each - click below to receive one report FREE:

Enphase Energy, Inc. (ENPH) - free report >>

Published in