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Why Enphase Energy (ENPH) Outpaced the Stock Market Today
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In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $33.91, marking a +1.38% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.58% for the day. On the other hand, the Dow registered a gain of 0.49%, and the technology-centric Nasdaq increased by 0.45%.
The stock of solar technology company has fallen by 8.03% in the past month, lagging the Oils-Energy sector's loss of 0.73% and the S&P 500's gain of 0.84%.
The upcoming earnings release of Enphase Energy will be of great interest to investors. 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, our latest consensus estimate is calling for revenue of $306.7 million, down 25.27% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.93 per share and revenue of $1.19 billion. These totals would mark changes of -34.8% and -19.17%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Enphase Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.08% lower within the past month. Currently, Enphase Energy is carrying a Zacks Rank of #4 (Sell).
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 17.38. For comparison, its industry has an average Forward P/E of 13.68, 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 222, positioning it in the bottom 10% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Why Enphase Energy (ENPH) Outpaced the Stock Market Today
In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $33.91, marking a +1.38% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.58% for the day. On the other hand, the Dow registered a gain of 0.49%, and the technology-centric Nasdaq increased by 0.45%.
The stock of solar technology company has fallen by 8.03% in the past month, lagging the Oils-Energy sector's loss of 0.73% and the S&P 500's gain of 0.84%.
The upcoming earnings release of Enphase Energy will be of great interest to investors. 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, our latest consensus estimate is calling for revenue of $306.7 million, down 25.27% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.93 per share and revenue of $1.19 billion. These totals would mark changes of -34.8% and -19.17%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Enphase Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.08% lower within the past month. Currently, Enphase Energy is carrying a Zacks Rank of #4 (Sell).
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 17.38. For comparison, its industry has an average Forward P/E of 13.68, 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 222, positioning it in the bottom 10% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.