Enphase Energy (ENPH - Free Report) closed the most recent trading day at $27.47, moving +1.29% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.49%. At the same time, the Dow lost 0.59%, and the tech-heavy Nasdaq lost 0.8%.
Coming into today, shares of the solar technology company had lost 19.64% in the past month. In that same time, the Oils-Energy sector gained 6.28%, while the S&P 500 gained 3%.
Wall Street will be looking for positivity from ENPH as it approaches its next earnings report date. On that day, ENPH is projected to report earnings of $0.25 per share, which would represent year-over-year growth of 525%. Meanwhile, our latest consensus estimate is calling for revenue of $176.47 million, up 126.24% from the prior-year quarter.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $0.79 per share and revenue of $603.28 million. These results would represent year-over-year changes of +690% and +90.82%, respectively.
It is also important to note the recent changes to analyst estimates for ENPH. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.18% higher within the past month. ENPH is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note ENPH's current valuation metrics, including its Forward P/E ratio of 34.26. For comparison, its industry has an average Forward P/E of 25.55, which means ENPH is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% of all 250+ industries.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.