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Enphase Energy (ENPH) Stock Declines While Market Improves: Some Information for Investors
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Enphase Energy (ENPH - Free Report) ended the recent trading session at $134.79, demonstrating a -0.62% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.04% for the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the solar technology company had gained 34.34% over the past month. This has outpaced the Oils-Energy sector's gain of 2.41% and the S&P 500's gain of 5.28% in that time.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company is expected to report EPS of $0.56, down 62.91% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $326.43 million, down 54.95% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.44 per share and a revenue of $2.33 billion, indicating changes of -3.9% and -0.04%, respectively, from the former year.
It is also important to note the 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.39% higher within the past month. Enphase Energy currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 30.57. This expresses a premium compared to the average Forward P/E of 22.18 of its industry.
One should further note that ENPH currently holds a PEG ratio of 1.67. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Solar industry had an average PEG ratio of 0.99 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 214, which puts it in the bottom 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Enphase Energy (ENPH) Stock Declines While Market Improves: Some Information for Investors
Enphase Energy (ENPH - Free Report) ended the recent trading session at $134.79, demonstrating a -0.62% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.04% for the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq lost 0.03%.
Prior to today's trading, shares of the solar technology company had gained 34.34% over the past month. This has outpaced the Oils-Energy sector's gain of 2.41% and the S&P 500's gain of 5.28% in that time.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company is expected to report EPS of $0.56, down 62.91% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $326.43 million, down 54.95% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.44 per share and a revenue of $2.33 billion, indicating changes of -3.9% and -0.04%, respectively, from the former year.
It is also important to note the 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.39% higher within the past month. Enphase Energy currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 30.57. This expresses a premium compared to the average Forward P/E of 22.18 of its industry.
One should further note that ENPH currently holds a PEG ratio of 1.67. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Solar industry had an average PEG ratio of 0.99 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 214, which puts it in the bottom 16% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.