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Enphase Energy (ENPH) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $69.02, marking a -4.58% move from the previous day. This change lagged the S&P 500's 0.74% loss on the day. Meanwhile, the Dow lost 1.21%, and the Nasdaq, a tech-heavy index, lost 0.89%.
Shares of the solar technology company witnessed a gain of 100.81% over the previous month, beating the performance of the Oils-Energy sector with its loss of 2.67%, and the S&P 500's gain of 5.39%.
The investment community will be closely monitoring the performance of Enphase Energy in its forthcoming earnings report. In that report, analysts expect Enphase Energy to post earnings of $0.46 per share. This would mark a year-over-year decline of 33.33%. Alongside, our most recent consensus estimate is anticipating revenue of $291.74 million, indicating a 19.66% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.12 per share and a revenue of $1.23 billion, signifying shifts of -28.38% and -16.78%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Enphase Energy. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Enphase Energy presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Enphase Energy currently has a Forward P/E ratio of 34.06. For comparison, its industry has an average Forward P/E of 24.41, which means Enphase Energy is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 175, positioning it in the bottom 29% 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.
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) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $69.02, marking a -4.58% move from the previous day. This change lagged the S&P 500's 0.74% loss on the day. Meanwhile, the Dow lost 1.21%, and the Nasdaq, a tech-heavy index, lost 0.89%.
Shares of the solar technology company witnessed a gain of 100.81% over the previous month, beating the performance of the Oils-Energy sector with its loss of 2.67%, and the S&P 500's gain of 5.39%.
The investment community will be closely monitoring the performance of Enphase Energy in its forthcoming earnings report. In that report, analysts expect Enphase Energy to post earnings of $0.46 per share. This would mark a year-over-year decline of 33.33%. Alongside, our most recent consensus estimate is anticipating revenue of $291.74 million, indicating a 19.66% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.12 per share and a revenue of $1.23 billion, signifying shifts of -28.38% and -16.78%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Enphase Energy. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Enphase Energy presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Enphase Energy currently has a Forward P/E ratio of 34.06. For comparison, its industry has an average Forward P/E of 24.41, which means Enphase Energy is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 175, positioning it in the bottom 29% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.