Enphase Energy (ENPH - Free Report) closed at $36.19 in the latest trading session, marking a -1.69% move from the prior day. This move lagged the S&P 500's daily gain of 6.24%. At the same time, the Dow added 6.38%, and the tech-heavy Nasdaq gained 5.6%.
Prior to today's trading, shares of the solar technology company had lost 29.03% over the past month. This has was narrower than the Oils-Energy sector's loss of 35.98% and lagged the S&P 500's loss of 21.22% in that time.
ENPH will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.32, up 300% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $205.70 million, up 105.39% from the prior-year quarter.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $1.27 per share and revenue of $883.74 million. These results would represent year-over-year changes of +33.68% and +41.55%, respectively.
Any recent changes to analyst estimates for ENPH should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. ENPH is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, ENPH currently has a Forward P/E ratio of 29.1. This represents a premium compared to its industry's average Forward P/E of 14.79.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 35, putting it in the top 14% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.