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Enphase Energy (ENPH) Registers a Bigger Fall Than the Market: Important Facts to Note
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Enphase Energy (ENPH - Free Report) closed the latest trading day at $119.10, indicating a -1.66% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.06%, and the technology-centric Nasdaq decreased by 0.55%.
The solar technology company's shares have seen an increase of 13.88% over the last month, surpassing the Oils-Energy sector's gain of 1.63% and the S&P 500's gain of 3.98%.
Investors will be eagerly watching for the performance of Enphase Energy in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.42, showcasing a 69.34% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $283.81 million, indicating a 60.91% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.40 per share and revenue of $1.68 billion, indicating changes of -22.9% and -26.85%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 18.56% decrease. Currently, Enphase Energy is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Enphase Energy currently has a Forward P/E ratio of 35.63. This denotes a premium relative to the industry's average Forward P/E of 10.95.
Meanwhile, ENPH's PEG ratio is currently 2.06. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Solar industry had an average PEG ratio of 0.67.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 174, this industry ranks in the bottom 31% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Enphase Energy (ENPH) Registers a Bigger Fall Than the Market: Important Facts to Note
Enphase Energy (ENPH - Free Report) closed the latest trading day at $119.10, indicating a -1.66% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.06%, and the technology-centric Nasdaq decreased by 0.55%.
The solar technology company's shares have seen an increase of 13.88% over the last month, surpassing the Oils-Energy sector's gain of 1.63% and the S&P 500's gain of 3.98%.
Investors will be eagerly watching for the performance of Enphase Energy in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.42, showcasing a 69.34% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $283.81 million, indicating a 60.91% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.40 per share and revenue of $1.68 billion, indicating changes of -22.9% and -26.85%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 18.56% decrease. Currently, Enphase Energy is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Enphase Energy currently has a Forward P/E ratio of 35.63. This denotes a premium relative to the industry's average Forward P/E of 10.95.
Meanwhile, ENPH's PEG ratio is currently 2.06. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Solar industry had an average PEG ratio of 0.67.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 174, this industry ranks in the bottom 31% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.