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Here's Why Enphase Energy (ENPH) Fell More Than Broader Market
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In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $109.35, marking a -1.53% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.42%.
The solar technology company's shares have seen a decrease of 7.33% over the last month, not keeping up with the Oils-Energy sector's gain of 6.42% and the S&P 500's gain of 2.67%.
Analysts and investors alike will be keeping a close eye on the performance of Enphase Energy in its upcoming earnings disclosure. On that day, Enphase Energy is projected to report earnings of $0.40 per share, which would represent a year-over-year decline of 70.8%. At the same time, our most recent consensus estimate is projecting a revenue of $279.38 million, reflecting a 61.52% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.36 per share and a revenue of $1.65 billion, representing changes of -23.81% and -27.83%, respectively, from the prior year.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.51% decrease. Right now, Enphase Energy possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Enphase Energy is currently being traded at a Forward P/E ratio of 33.01. This valuation marks a premium compared to its industry's average Forward P/E of 11.92.
Meanwhile, ENPH's PEG ratio is currently 1.91. 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. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.63.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% of all 250+ industries.
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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Here's Why Enphase Energy (ENPH) Fell More Than Broader Market
In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $109.35, marking a -1.53% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.28%. Meanwhile, the Dow experienced a drop of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.42%.
The solar technology company's shares have seen a decrease of 7.33% over the last month, not keeping up with the Oils-Energy sector's gain of 6.42% and the S&P 500's gain of 2.67%.
Analysts and investors alike will be keeping a close eye on the performance of Enphase Energy in its upcoming earnings disclosure. On that day, Enphase Energy is projected to report earnings of $0.40 per share, which would represent a year-over-year decline of 70.8%. At the same time, our most recent consensus estimate is projecting a revenue of $279.38 million, reflecting a 61.52% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.36 per share and a revenue of $1.65 billion, representing changes of -23.81% and -27.83%, respectively, from the prior year.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.51% decrease. Right now, Enphase Energy possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Enphase Energy is currently being traded at a Forward P/E ratio of 33.01. This valuation marks a premium compared to its industry's average Forward P/E of 11.92.
Meanwhile, ENPH's PEG ratio is currently 1.91. 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. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.63.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% of all 250+ industries.
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.