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Enphase Energy (ENPH) Gains As Market Dips: What You Should Know
In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $211.53, marking a +0.62% move from the previous day. This move outpaced the S&P 500's daily loss of 0.15%. At the same time, the Dow lost 0.28%, and the tech-heavy Nasdaq gained 3.16%.
Coming into today, shares of the solar technology company had lost 0.87% in the past month. In that same time, the Oils-Energy sector lost 7.03%, while the S&P 500 lost 5.39%.
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, the Zacks Consensus Estimate for revenue is projecting net sales of $720.53 million, up 63.28% from the year-ago period.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $5.46 per share and revenue of $3.17 billion. These results would represent year-over-year changes of +18.18% and +35.95%, respectively.
Investors might also notice recent changes to analyst estimates for Enphase Energy. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 1.93% lower within the past month. Enphase Energy is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Enphase Energy's current valuation metrics, including its Forward P/E ratio of 38.53. This represents a premium compared to its industry's average Forward P/E of 32.04.
It is also worth noting that ENPH currently has a PEG ratio of 0.85. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ENPH's industry had an average PEG ratio of 0.8 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.