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Enphase Energy (ENPH) Outpaces Stock Market Gains: What You Should Know
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Enphase Energy (ENPH - Free Report) closed the most recent trading day at $204.66, moving +1.24% from the previous trading session. This change outpaced the S&P 500's 0.3% gain on the day. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq added 0.34%.
Prior to today's trading, shares of the solar technology company had lost 0.7% over the past month. This has was narrower than the Oils-Energy sector's loss of 5.47% and the S&P 500's loss of 1.21% in that time.
Enphase Energy will be looking to display strength as it nears 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 $720.53 million, up 63.28% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.46 per share and revenue of $3.17 billion. These totals would mark changes of +18.18% and +35.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Enphase Energy. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.66% lower. Enphase Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Enphase Energy is currently trading at a Forward P/E ratio of 37.05. For comparison, its industry has an average Forward P/E of 27.16, which means Enphase Energy is trading at a premium to the group.
Investors should also note that ENPH has a PEG ratio of 0.82 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 0.74 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Enphase Energy (ENPH) Outpaces Stock Market Gains: What You Should Know
Enphase Energy (ENPH - Free Report) closed the most recent trading day at $204.66, moving +1.24% from the previous trading session. This change outpaced the S&P 500's 0.3% gain on the day. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq added 0.34%.
Prior to today's trading, shares of the solar technology company had lost 0.7% over the past month. This has was narrower than the Oils-Energy sector's loss of 5.47% and the S&P 500's loss of 1.21% in that time.
Enphase Energy will be looking to display strength as it nears 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 $720.53 million, up 63.28% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.46 per share and revenue of $3.17 billion. These totals would mark changes of +18.18% and +35.95%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Enphase Energy. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.66% lower. Enphase Energy is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Enphase Energy is currently trading at a Forward P/E ratio of 37.05. For comparison, its industry has an average Forward P/E of 27.16, which means Enphase Energy is trading at a premium to the group.
Investors should also note that ENPH has a PEG ratio of 0.82 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 0.74 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.