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Enphase Energy (ENPH) Dips More Than Broader Market: What You Should Know
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In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $91.57, marking a -1.68% move from the previous day. This change lagged the S&P 500's 0.02% loss on the day. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.04%.
Shares of the solar technology company have depreciated by 22.22% over the course of the past month, underperforming the Oils-Energy sector's loss of 7.26% and the S&P 500's gain of 3.77%.
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 October 22, 2024. The company is forecasted to report an EPS of $0.77, showcasing a 24.51% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $391.7 million, down 28.92% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.53 per share and a revenue of $1.4 billion, representing changes of -42.63% and -38.8%, respectively, from the prior year.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, there's been a 1.1% fall in the Zacks Consensus EPS estimate. Enphase Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Enphase Energy is presently being traded at a Forward P/E ratio of 36.84. This denotes a premium relative to the industry's average Forward P/E of 13.73.
Investors should also note that ENPH has a PEG ratio of 3.8 right now. 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 1.13 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 151, which puts it in the bottom 41% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Enphase Energy (ENPH) Dips More Than Broader Market: What You Should Know
In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $91.57, marking a -1.68% move from the previous day. This change lagged the S&P 500's 0.02% loss on the day. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.04%.
Shares of the solar technology company have depreciated by 22.22% over the course of the past month, underperforming the Oils-Energy sector's loss of 7.26% and the S&P 500's gain of 3.77%.
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 October 22, 2024. The company is forecasted to report an EPS of $0.77, showcasing a 24.51% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $391.7 million, down 28.92% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.53 per share and a revenue of $1.4 billion, representing changes of -42.63% and -38.8%, respectively, from the prior year.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Over the past month, there's been a 1.1% fall in the Zacks Consensus EPS estimate. Enphase Energy is currently a Zacks Rank #3 (Hold).
In terms of valuation, Enphase Energy is presently being traded at a Forward P/E ratio of 36.84. This denotes a premium relative to the industry's average Forward P/E of 13.73.
Investors should also note that ENPH has a PEG ratio of 3.8 right now. 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 1.13 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 151, which puts it in the bottom 41% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.