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Why Enphase Energy (ENPH) Dipped More Than Broader Market Today
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Enphase Energy (ENPH - Free Report) closed at $47.22 in the latest trading session, marking a -9.9% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 1.44%. Meanwhile, the Dow experienced a drop of 0.09%, and the technology-dominated Nasdaq saw a decrease of 2.22%.
The stock of solar technology company has fallen by 18.15% in the past month, lagging the Oils-Energy sector's loss of 7.14% and the S&P 500's gain of 0.08%.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. On that day, Enphase Energy is projected to report earnings of $0.46 per share, which would represent a year-over-year decline of 33.33%. Simultaneously, our latest consensus estimate expects the revenue to be $291.74 million, showing a 19.66% drop compared to the year-ago quarter.
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 take note of any recent adjustments to analyst estimates 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Enphase Energy boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Enphase Energy is at present trading with a Forward P/E ratio of 24.68. This signifies no noticeable deviation in comparison to the average Forward P/E of 24.68 for its industry.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 35% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.
View the Zacks #1 Rank List
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Why Enphase Energy (ENPH) Dipped More Than Broader Market Today
Enphase Energy (ENPH - Free Report) closed at $47.22 in the latest trading session, marking a -9.9% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 1.44%. Meanwhile, the Dow experienced a drop of 0.09%, and the technology-dominated Nasdaq saw a decrease of 2.22%.
The stock of solar technology company has fallen by 18.15% in the past month, lagging the Oils-Energy sector's loss of 7.14% and the S&P 500's gain of 0.08%.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. On that day, Enphase Energy is projected to report earnings of $0.46 per share, which would represent a year-over-year decline of 33.33%. Simultaneously, our latest consensus estimate expects the revenue to be $291.74 million, showing a 19.66% drop compared to the year-ago quarter.
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 take note of any recent adjustments to analyst estimates 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Enphase Energy boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Enphase Energy is at present trading with a Forward P/E ratio of 24.68. This signifies no noticeable deviation in comparison to the average Forward P/E of 24.68 for its industry.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 160, this industry ranks in the bottom 35% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.