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Enphase Energy (ENPH) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $127.77, marking a -0.75% move from the previous day. This move lagged the S&P 500's daily loss of 0.42%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the solar technology company had lost 4.96% in the past month. In that same time, the Oils-Energy sector gained 4.17%, while the S&P 500 gained 1.02%.
Investors will be hoping for strength from Enphase Energy as it approaches its next earnings release. On that day, Enphase Energy is projected to report earnings of $1.10 per share, which would represent a year-over-year decline of 12%. Our most recent consensus estimate is calling for quarterly revenue of $574.46 million, down 9.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.05 per share and revenue of $2.73 billion, which would represent changes of +9.31% and +17.01%, respectively, from the prior 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.98% lower. Enphase Energy currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Enphase Energy currently has a Forward P/E ratio of 25.51. Its industry sports an average Forward P/E of 24.66, so we one might conclude that Enphase Energy is trading at a premium comparatively.
We can also see that ENPH currently has a PEG ratio of 1.1. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ENPH's industry had an average PEG ratio of 0.74 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% 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.
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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Enphase Energy (ENPH) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Enphase Energy (ENPH - Free Report) closed at $127.77, marking a -0.75% move from the previous day. This move lagged the S&P 500's daily loss of 0.42%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 0.08%.
Coming into today, shares of the solar technology company had lost 4.96% in the past month. In that same time, the Oils-Energy sector gained 4.17%, while the S&P 500 gained 1.02%.
Investors will be hoping for strength from Enphase Energy as it approaches its next earnings release. On that day, Enphase Energy is projected to report earnings of $1.10 per share, which would represent a year-over-year decline of 12%. Our most recent consensus estimate is calling for quarterly revenue of $574.46 million, down 9.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.05 per share and revenue of $2.73 billion, which would represent changes of +9.31% and +17.01%, respectively, from the prior 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.98% lower. Enphase Energy currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Enphase Energy currently has a Forward P/E ratio of 25.51. Its industry sports an average Forward P/E of 24.66, so we one might conclude that Enphase Energy is trading at a premium comparatively.
We can also see that ENPH currently has a PEG ratio of 1.1. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ENPH's industry had an average PEG ratio of 0.74 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.