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Enphase Energy (ENPH) Gains As Market Dips: What You Should Know
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In the latest close session, Enphase Energy (ENPH - Free Report) was up +2.66% at $38.99. The stock exceeded the S&P 500, which registered a loss of 0.13% for the day. At the same time, the Dow lost 0.27%, and the tech-heavy Nasdaq lost 0.07%.
Shares of the solar technology company witnessed a gain of 6.18% over the previous month, beating the performance of the Oils-Energy sector with its gain of 2.71%, and the S&P 500's gain of 2.71%.
Investors will be eagerly watching for the performance of Enphase Energy in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.6, showcasing a 7.69% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $359.53 million, indicating a 5.6% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.56 per share and revenue of $1.45 billion. These totals would mark changes of +8.02% and +8.83%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Enphase Energy. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.4% rise in the Zacks Consensus EPS estimate. Enphase Energy currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 14.84. This represents a discount compared to its industry average Forward P/E of 16.64.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Enphase Energy (ENPH) Gains As Market Dips: What You Should Know
In the latest close session, Enphase Energy (ENPH - Free Report) was up +2.66% at $38.99. The stock exceeded the S&P 500, which registered a loss of 0.13% for the day. At the same time, the Dow lost 0.27%, and the tech-heavy Nasdaq lost 0.07%.
Shares of the solar technology company witnessed a gain of 6.18% over the previous month, beating the performance of the Oils-Energy sector with its gain of 2.71%, and the S&P 500's gain of 2.71%.
Investors will be eagerly watching for the performance of Enphase Energy in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.6, showcasing a 7.69% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $359.53 million, indicating a 5.6% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.56 per share and revenue of $1.45 billion. These totals would mark changes of +8.02% and +8.83%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Enphase Energy. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.4% rise in the Zacks Consensus EPS estimate. Enphase Energy currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 14.84. This represents a discount compared to its industry average Forward P/E of 16.64.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.