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Enphase Energy (ENPH) Ascends While Market Falls: Some Facts to Note
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Enphase Energy (ENPH - Free Report) ended the recent trading session at $125.09, demonstrating a +0.9% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.02%. Elsewhere, the Dow saw a downswing of 1.04%, while the tech-heavy Nasdaq depreciated by 1.65%.
Heading into today, shares of the solar technology company had gained 26.76% over the past month, outpacing the Oils-Energy sector's gain of 3.07% and the S&P 500's gain of 3.64% in that time.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company's earnings per share (EPS) are projected to be $0.40, reflecting a 70.8% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $283.63 million, down 60.93% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.37 per share and a revenue of $1.67 billion, demonstrating changes of -23.58% and -27.14%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Enphase Energy. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 16.61% lower. At present, Enphase Energy boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 36.81 right now. This signifies a premium in comparison to the average Forward P/E of 11.81 for its industry.
Also, we should mention that ENPH has a PEG ratio of 2.13. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ENPH's industry had an average PEG ratio of 0.72 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Ascends While Market Falls: Some Facts to Note
Enphase Energy (ENPH - Free Report) ended the recent trading session at $125.09, demonstrating a +0.9% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.02%. Elsewhere, the Dow saw a downswing of 1.04%, while the tech-heavy Nasdaq depreciated by 1.65%.
Heading into today, shares of the solar technology company had gained 26.76% over the past month, outpacing the Oils-Energy sector's gain of 3.07% and the S&P 500's gain of 3.64% in that time.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company's earnings per share (EPS) are projected to be $0.40, reflecting a 70.8% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $283.63 million, down 60.93% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $3.37 per share and a revenue of $1.67 billion, demonstrating changes of -23.58% and -27.14%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Enphase Energy. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 16.61% lower. At present, Enphase Energy boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 36.81 right now. This signifies a premium in comparison to the average Forward P/E of 11.81 for its industry.
Also, we should mention that ENPH has a PEG ratio of 2.13. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. ENPH's industry had an average PEG ratio of 0.72 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.