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Enphase Energy (ENPH) Dips More Than Broader Market: What You Should Know
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Enphase Energy (ENPH - Free Report) closed at $116.01 in the latest trading session, marking a -1% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.13% for the day. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq decreased by 0.12%.
The solar technology company's shares have seen a decrease of 4.75% over the last month, surpassing the Oils-Energy sector's loss of 5.06% and the S&P 500's loss of 5.53%.
Analysts and investors alike will be keeping a close eye on the performance of Enphase Energy in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.01, reflecting a 19.2% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $569.64 million, indicating a 10.25% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5 per share and a revenue of $2.66 billion, signifying shifts of +8.23% and +14.19%, respectively, from the last 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.21% downward. Right now, Enphase Energy possesses a Zacks Rank of #3 (Hold).
Investors should also note Enphase Energy's current valuation metrics, including its Forward P/E ratio of 23.45. This represents a premium compared to its industry's average Forward P/E of 19.28.
One should further note that ENPH currently holds a PEG ratio of 1.15. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Solar stocks are, on average, holding a PEG ratio of 0.6 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 158, positioning it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Enphase Energy (ENPH) Dips More Than Broader Market: What You Should Know
Enphase Energy (ENPH - Free Report) closed at $116.01 in the latest trading session, marking a -1% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.13% for the day. On the other hand, the Dow registered a loss of 0.03%, and the technology-centric Nasdaq decreased by 0.12%.
The solar technology company's shares have seen a decrease of 4.75% over the last month, surpassing the Oils-Energy sector's loss of 5.06% and the S&P 500's loss of 5.53%.
Analysts and investors alike will be keeping a close eye on the performance of Enphase Energy in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.01, reflecting a 19.2% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $569.64 million, indicating a 10.25% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5 per share and a revenue of $2.66 billion, signifying shifts of +8.23% and +14.19%, respectively, from the last 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.21% downward. Right now, Enphase Energy possesses a Zacks Rank of #3 (Hold).
Investors should also note Enphase Energy's current valuation metrics, including its Forward P/E ratio of 23.45. This represents a premium compared to its industry's average Forward P/E of 19.28.
One should further note that ENPH currently holds a PEG ratio of 1.15. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Solar stocks are, on average, holding a PEG ratio of 0.6 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 158, positioning it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.