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Enphase Energy (ENPH) Increases Despite Market Slip: Here's What You Need to Know
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Enphase Energy (ENPH - Free Report) ended the recent trading session at $31.77, demonstrating a +2.78% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq decreased by 0.09%.
Shares of the solar technology company witnessed a loss of 15.13% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 0.04%, and the S&P 500's loss of 0.24%.
The investment community will be closely monitoring the performance of Enphase Energy in its forthcoming earnings report. The company is forecasted to report an EPS of $0.48, showcasing a 46.67% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $306.7 million, indicating a 25.27% decrease compared to the same quarter of the previous year.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $1.93 per share and revenue of $1.19 billion. These results would represent year-over-year changes of -34.8% and -19.01%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enphase Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Enphase Energy is currently a Zacks Rank #3 (Hold).
Digging into valuation, Enphase Energy currently has a Forward P/E ratio of 15.99. This signifies a premium in comparison to the average Forward P/E of 12.87 for its industry.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 228, positioning it in the bottom 8% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
View the Zacks #1 Rank List
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Enphase Energy (ENPH) Increases Despite Market Slip: Here's What You Need to Know
Enphase Energy (ENPH - Free Report) ended the recent trading session at $31.77, demonstrating a +2.78% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.17%. On the other hand, the Dow registered a loss of 0.26%, and the technology-centric Nasdaq decreased by 0.09%.
Shares of the solar technology company witnessed a loss of 15.13% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 0.04%, and the S&P 500's loss of 0.24%.
The investment community will be closely monitoring the performance of Enphase Energy in its forthcoming earnings report. The company is forecasted to report an EPS of $0.48, showcasing a 46.67% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $306.7 million, indicating a 25.27% decrease compared to the same quarter of the previous year.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $1.93 per share and revenue of $1.19 billion. These results would represent year-over-year changes of -34.8% and -19.01%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Enphase Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Enphase Energy is currently a Zacks Rank #3 (Hold).
Digging into valuation, Enphase Energy currently has a Forward P/E ratio of 15.99. This signifies a premium in comparison to the average Forward P/E of 12.87 for its industry.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 228, positioning it in the bottom 8% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.