Enphase Energy (ENPH) closed at $158.15 in the latest trading session, marking a -0.55% move from the prior day. This change was narrower than the S&P 500’s 0.79% loss on the day. Elsewhere, the Dow lost 0.53%, while the tech-heavy Nasdaq lost 0.48%.
Coming into today, shares of the solar technology company had gained 19.65% in the past month. In that same time, the Oils-Energy sector gained 4.93%, while the S&P 500 lost 2.43%.
Enphase Energy will be looking to display strength as it nears its next earnings release. On that day, Enphase Energy is projected to report earnings of $0.65 per share, which would represent year-over-year growth of 16.07%. Our most recent consensus estimate is calling for quarterly revenue of $434.09 million, up 43.86% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.13 per share and revenue of $2 billion. These totals would mark changes of +29.88% and +45.04%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Enphase Energy. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 8.1% higher. Enphase Energy is currently a Zacks Rank #3 (Hold).
Investors should also note Enphase Energy’s current valuation metrics, including its Forward P/E ratio of 50.79. Its industry sports an average Forward P/E of 37.25, so we one might conclude that Enphase Energy is trading at a premium comparatively.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 21% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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