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Enphase Energy (ENPH) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Enphase Energy (ENPH - Free Report) closed the most recent trading day at $35.65, moving -5.79% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.4% for the day. Elsewhere, the Dow saw an upswing of 0.11%, while the tech-heavy Nasdaq depreciated by 0.73%.
Heading into today, shares of the solar technology company had lost 10.48% over the past month, lagging the Oils-Energy sector's gain of 10.64% and the S&P 500's loss of 7.34%.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company's upcoming EPS is projected at $0.43, signifying a 36.76% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $283.4 million, reflecting a 20.41% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.2 per share and a revenue of $1.25 billion, demonstrating changes of -25.68% and -14.85%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enphase Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection remained stagnant. Enphase Energy is currently a Zacks Rank #3 (Hold).
In the context of valuation, Enphase Energy is at present trading with a Forward P/E ratio of 17.17. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 17.17.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 180, this industry ranks in the bottom 27% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Enphase Energy (ENPH) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Enphase Energy (ENPH - Free Report) closed the most recent trading day at $35.65, moving -5.79% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.4% for the day. Elsewhere, the Dow saw an upswing of 0.11%, while the tech-heavy Nasdaq depreciated by 0.73%.
Heading into today, shares of the solar technology company had lost 10.48% over the past month, lagging the Oils-Energy sector's gain of 10.64% and the S&P 500's loss of 7.34%.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company's upcoming EPS is projected at $0.43, signifying a 36.76% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $283.4 million, reflecting a 20.41% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.2 per share and a revenue of $1.25 billion, demonstrating changes of -25.68% and -14.85%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enphase Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Within the past 30 days, our consensus EPS projection remained stagnant. Enphase Energy is currently a Zacks Rank #3 (Hold).
In the context of valuation, Enphase Energy is at present trading with a Forward P/E ratio of 17.17. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 17.17.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 180, this industry ranks in the bottom 27% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.