Enphase Energy (ENPH) closed the most recent trading day at $189.11, moving -0.91% from the previous trading session. This move was narrower than the S&P 500’s daily loss of 1.03%. At the same time, the Dow lost 1.48%, and the tech-heavy Nasdaq lost 0.05%.
Coming into today, shares of the solar technology company had lost 25% in the past month. In that same time, the Oils-Energy sector lost 4.49%, while the S&P 500 lost 0.62%.
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 $0.58 per share, which would represent year-over-year growth of 13.73%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $403.06 million, up 52.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.26 per share and revenue of $1.37 billion, which would represent changes of +64.96% and +77.24%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Enphase Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
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. The Zacks Consensus EPS estimate has moved 0.54% higher within the past month. Enphase Energy is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 84.35. This valuation marks a premium compared to its industry’s average Forward P/E of 67.84.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 39% 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.
To follow ENPH in the coming trading sessions, be sure to utilize Zacks.com.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
