In the latest trading session, Enphase Energy (ENPH) closed at $188.17, marking a -0.61% move from the previous day. This move lagged the S&P 500’s daily gain of 0.62%. At the same time, the Dow added 0.55%, and the tech-heavy Nasdaq lost 0.03%.
Heading into today, shares of the solar technology company had lost 25.78% over the past month, lagging the Oils-Energy sector’s loss of 0.1% and the S&P 500’s gain of 0.39% in that time.
Wall Street will be looking for positivity from Enphase Energy as it approaches its next earnings report date. In that report, analysts expect Enphase Energy to post earnings of $0.58 per share. This would mark 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.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.26 per share and revenue of $1.37 billion. These totals would mark changes of +64.96% and +77.24%, respectively, from last year.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Enphase Energy currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 83.67. Its industry sports an average Forward P/E of 70.1, 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 group has a Zacks Industry Rank of 116, putting it in the top 46% 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.
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Enphase Energy, Inc. (ENPH): Free Stock Analysis Report
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