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Here's Why Enphase Energy (ENPH) Fell More Than Broader Market
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Enphase Energy (ENPH - Free Report) ended the recent trading session at $46.84, demonstrating a -4.87% change from the preceding day's closing price. This change lagged the S&P 500's 0.22% loss on the day. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq depreciated by 0.66%.
Coming into today, shares of the solar technology company had lost 31.92% in the past month. In that same time, the Oils-Energy sector lost 4.76%, while the S&P 500 lost 1.21%.
Investors will be eagerly watching for the performance of Enphase Energy in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.45, signifying a 34.78% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $291.74 million, indicating a 19.66% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.12 per share and revenue of $1.23 billion, which would represent changes of -28.38% and -16.78%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Enphase Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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.
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. Over the past month, there's been a 1.1% rise in the Zacks Consensus EPS estimate. Right now, Enphase Energy possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Enphase Energy is presently being traded at a Forward P/E ratio of 23.19. This valuation marks no noticeable deviation compared to its industry average Forward P/E of 23.19.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 87, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Here's Why Enphase Energy (ENPH) Fell More Than Broader Market
Enphase Energy (ENPH - Free Report) ended the recent trading session at $46.84, demonstrating a -4.87% change from the preceding day's closing price. This change lagged the S&P 500's 0.22% loss on the day. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq depreciated by 0.66%.
Coming into today, shares of the solar technology company had lost 31.92% in the past month. In that same time, the Oils-Energy sector lost 4.76%, while the S&P 500 lost 1.21%.
Investors will be eagerly watching for the performance of Enphase Energy in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.45, signifying a 34.78% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $291.74 million, indicating a 19.66% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.12 per share and revenue of $1.23 billion, which would represent changes of -28.38% and -16.78%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Enphase Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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.
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. Over the past month, there's been a 1.1% rise in the Zacks Consensus EPS estimate. Right now, Enphase Energy possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Enphase Energy is presently being traded at a Forward P/E ratio of 23.19. This valuation marks no noticeable deviation compared to its industry average Forward P/E of 23.19.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 87, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.