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Enphase Energy (ENPH) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $182.60, marking a -0.11% move from the previous day. This move lagged the S&P 500's daily gain of 0.85%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.61%.
Prior to today's trading, shares of the solar technology company had gained 2.01% over the past month. This has lagged the Oils-Energy sector's gain of 2.95% and the S&P 500's gain of 3.18% in that time.
Enphase Energy will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect Enphase Energy to post earnings of $1.26 per share. This would mark year-over-year growth of 17.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $728.77 million, up 37.45% from the year-ago period.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $5.42 per share and revenue of $3.06 billion. These results would represent year-over-year changes of +17.32% and +31.13%, 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 3.41% lower. Enphase Energy currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 33.75 right now. For comparison, its industry has an average Forward P/E of 27.35, which means Enphase Energy is trading at a premium to the group.
We can also see that ENPH currently has a PEG ratio of 1.33. 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 0.76 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 49, putting 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Enphase Energy (ENPH) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $182.60, marking a -0.11% move from the previous day. This move lagged the S&P 500's daily gain of 0.85%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, added 5.61%.
Prior to today's trading, shares of the solar technology company had gained 2.01% over the past month. This has lagged the Oils-Energy sector's gain of 2.95% and the S&P 500's gain of 3.18% in that time.
Enphase Energy will be looking to display strength as it nears its next earnings release, which is expected to be July 27, 2023. In that report, analysts expect Enphase Energy to post earnings of $1.26 per share. This would mark year-over-year growth of 17.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $728.77 million, up 37.45% from the year-ago period.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $5.42 per share and revenue of $3.06 billion. These results would represent year-over-year changes of +17.32% and +31.13%, 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. 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.
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. Within the past 30 days, our consensus EPS projection has moved 3.41% lower. Enphase Energy currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 33.75 right now. For comparison, its industry has an average Forward P/E of 27.35, which means Enphase Energy is trading at a premium to the group.
We can also see that ENPH currently has a PEG ratio of 1.33. 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 0.76 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 49, putting 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.