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Enphase Energy (ENPH) Rises Higher Than Market: Key Facts
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Enphase Energy (ENPH - Free Report) closed the most recent trading day at $105.44, moving +1.26% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.25%. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 1.3%.
Heading into today, shares of the solar technology company had lost 15.09% over the past month, lagging the Oils-Energy sector's loss of 1.82% and the S&P 500's gain of 1.58% in that time.
The investment community will be paying close attention to the earnings performance of Enphase Energy in its upcoming release. The company is slated to reveal its earnings on February 6, 2024. The company's earnings per share (EPS) are projected to be $0.54, reflecting a 64.24% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $326.17 million, down 54.99% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Enphase Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 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 moved 4.13% lower. Enphase Energy presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Enphase Energy is currently trading at a Forward P/E ratio of 27.65. This represents a premium compared to its industry's average Forward P/E of 11.07.
We can additionally observe that ENPH currently boasts a PEG ratio of 1.91. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Solar industry was having an average PEG ratio of 1.25.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 205, putting it in the bottom 19% 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Enphase Energy (ENPH) Rises Higher Than Market: Key Facts
Enphase Energy (ENPH - Free Report) closed the most recent trading day at $105.44, moving +1.26% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.25%. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 1.3%.
Heading into today, shares of the solar technology company had lost 15.09% over the past month, lagging the Oils-Energy sector's loss of 1.82% and the S&P 500's gain of 1.58% in that time.
The investment community will be paying close attention to the earnings performance of Enphase Energy in its upcoming release. The company is slated to reveal its earnings on February 6, 2024. The company's earnings per share (EPS) are projected to be $0.54, reflecting a 64.24% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $326.17 million, down 54.99% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Enphase Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 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 moved 4.13% lower. Enphase Energy presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Enphase Energy is currently trading at a Forward P/E ratio of 27.65. This represents a premium compared to its industry's average Forward P/E of 11.07.
We can additionally observe that ENPH currently boasts a PEG ratio of 1.91. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Solar industry was having an average PEG ratio of 1.25.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 205, putting it in the bottom 19% 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.