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Enphase Energy (ENPH) Stock Declines While Market Improves: Some Information for Investors
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Enphase Energy (ENPH - Free Report) closed at $110.59 in the latest trading session, marking a -1.67% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.03%. Meanwhile, the Dow gained 0.41%, and the Nasdaq, a tech-heavy index, added 0.12%.
Shares of the solar technology company have appreciated by 1.15% over the course of the past month, underperforming the Oils-Energy sector's gain of 4.4% and outperforming the S&P 500's loss of 0.9%.
Analysts and investors alike will be keeping a close eye on the performance of Enphase Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on April 23, 2024. It is anticipated that the company will report an EPS of $0.43, marking a 68.61% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $279.26 million, down 61.54% from the prior-year 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 -27.94%, respectively, from the prior year.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.1% fall in the Zacks Consensus EPS estimate. At present, Enphase Energy boasts a Zacks Rank of #3 (Hold).
Investors should also note Enphase Energy's current valuation metrics, including its Forward P/E ratio of 33.45. This expresses a premium compared to the average Forward P/E of 12.22 of its industry.
It is also worth noting that ENPH currently has a PEG ratio of 1.94. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Solar stocks are, on average, holding a PEG ratio of 0.3 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Declines While Market Improves: Some Information for Investors
Enphase Energy (ENPH - Free Report) closed at $110.59 in the latest trading session, marking a -1.67% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.03%. Meanwhile, the Dow gained 0.41%, and the Nasdaq, a tech-heavy index, added 0.12%.
Shares of the solar technology company have appreciated by 1.15% over the course of the past month, underperforming the Oils-Energy sector's gain of 4.4% and outperforming the S&P 500's loss of 0.9%.
Analysts and investors alike will be keeping a close eye on the performance of Enphase Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on April 23, 2024. It is anticipated that the company will report an EPS of $0.43, marking a 68.61% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $279.26 million, down 61.54% from the prior-year 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 -27.94%, respectively, from the prior year.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.1% fall in the Zacks Consensus EPS estimate. At present, Enphase Energy boasts a Zacks Rank of #3 (Hold).
Investors should also note Enphase Energy's current valuation metrics, including its Forward P/E ratio of 33.45. This expresses a premium compared to the average Forward P/E of 12.22 of its industry.
It is also worth noting that ENPH currently has a PEG ratio of 1.94. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Solar stocks are, on average, holding a PEG ratio of 0.3 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.