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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 at $179.66 in the latest trading session, marking a +1.57% move from the prior day. This change outpaced the S&P 500's 0.69% gain on the day. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq lost 8.94%.
Heading into today, shares of the solar technology company had gained 4.85% over the past month, outpacing the Oils-Energy sector's gain of 2.52% and lagging the S&P 500's gain of 5.41% in that time.
Enphase Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.27, up 18.69% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $733.91 million, up 38.42% from the year-ago period.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $5.57 per share and revenue of $3.1 billion. These results would represent year-over-year changes of +20.56% and +33.12%, respectively.
Investors should also note any recent changes to analyst estimates for Enphase Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.67% higher. Enphase Energy is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 31.78 right now. For comparison, its industry has an average Forward P/E of 26.09, which means Enphase Energy is trading at a premium to the group.
Also, we should mention that ENPH has a PEG ratio of 1.29. 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. Solar stocks are, on average, holding a PEG ratio of 0.9 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% 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.
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) Outpaces Stock Market Gains: What You Should Know
Enphase Energy (ENPH - Free Report) closed at $179.66 in the latest trading session, marking a +1.57% move from the prior day. This change outpaced the S&P 500's 0.69% gain on the day. Elsewhere, the Dow gained 0.43%, while the tech-heavy Nasdaq lost 8.94%.
Heading into today, shares of the solar technology company had gained 4.85% over the past month, outpacing the Oils-Energy sector's gain of 2.52% and lagging the S&P 500's gain of 5.41% in that time.
Enphase Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.27, up 18.69% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $733.91 million, up 38.42% from the year-ago period.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $5.57 per share and revenue of $3.1 billion. These results would represent year-over-year changes of +20.56% and +33.12%, respectively.
Investors should also note any recent changes to analyst estimates for Enphase Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.67% higher. Enphase Energy is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 31.78 right now. For comparison, its industry has an average Forward P/E of 26.09, which means Enphase Energy is trading at a premium to the group.
Also, we should mention that ENPH has a PEG ratio of 1.29. 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. Solar stocks are, on average, holding a PEG ratio of 0.9 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.