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Enphase Energy (ENPH) Declines More Than Market: Some Information for Investors
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In the latest market close, Enphase Energy (ENPH - Free Report) reached $119.60, with a -1.95% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.95%. Elsewhere, the Dow lost 1.09%, while the tech-heavy Nasdaq lost 0.84%.
The solar technology company's shares have seen an increase of 0.81% over the last month, not keeping up with the Oils-Energy sector's gain of 8.7% and the S&P 500's gain of 1.78%.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company plans to announce its earnings on April 23, 2024. 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%. Simultaneously, our latest consensus estimate expects the revenue to be $279.38 million, showing a 61.52% drop compared to the year-ago quarter.
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 -27.88%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enphase Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.1% downward. Currently, Enphase Energy is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Enphase Energy is currently exchanging hands at a Forward P/E ratio of 36.28. This denotes a premium relative to the industry's average Forward P/E of 13.69.
Investors should also note that ENPH has a PEG ratio of 2.1 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Solar industry held an average PEG ratio of 0.45.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Enphase Energy (ENPH) Declines More Than Market: Some Information for Investors
In the latest market close, Enphase Energy (ENPH - Free Report) reached $119.60, with a -1.95% movement compared to the previous day. The stock's change was less than the S&P 500's daily loss of 0.95%. Elsewhere, the Dow lost 1.09%, while the tech-heavy Nasdaq lost 0.84%.
The solar technology company's shares have seen an increase of 0.81% over the last month, not keeping up with the Oils-Energy sector's gain of 8.7% and the S&P 500's gain of 1.78%.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company plans to announce its earnings on April 23, 2024. 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%. Simultaneously, our latest consensus estimate expects the revenue to be $279.38 million, showing a 61.52% drop compared to the year-ago quarter.
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 -27.88%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enphase Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.1% downward. Currently, Enphase Energy is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, Enphase Energy is currently exchanging hands at a Forward P/E ratio of 36.28. This denotes a premium relative to the industry's average Forward P/E of 13.69.
Investors should also note that ENPH has a PEG ratio of 2.1 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Solar industry held an average PEG ratio of 0.45.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.