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Enphase Energy (ENPH) Stock Dips While Market Gains: Key Facts
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Enphase Energy (ENPH - Free Report) closed the most recent trading day at $118.96, moving -1.55% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.25%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.03%.
The solar technology company's stock has climbed by 6.51% in the past month, exceeding the Oils-Energy sector's loss of 5.99% and the S&P 500's gain of 3.34%.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company is expected to report EPS of $0.51, down 65.31% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $309.92 million, reflecting a 56.42% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.93 per share and a revenue of $1.49 billion, signifying shifts of -33.56% and -34.87%, respectively, from the 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. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.22% higher within the past month. Right now, Enphase Energy possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 41.25 right now. This denotes a premium relative to the industry's average Forward P/E of 12.14.
Meanwhile, ENPH's PEG ratio is currently 2.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Solar industry stood at 0.51 at the close of the market yesterday.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 224, this industry ranks in the bottom 12% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Enphase Energy (ENPH) Stock Dips While Market Gains: Key Facts
Enphase Energy (ENPH - Free Report) closed the most recent trading day at $118.96, moving -1.55% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.25%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.03%.
The solar technology company's stock has climbed by 6.51% in the past month, exceeding the Oils-Energy sector's loss of 5.99% and the S&P 500's gain of 3.34%.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company is expected to report EPS of $0.51, down 65.31% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $309.92 million, reflecting a 56.42% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.93 per share and a revenue of $1.49 billion, signifying shifts of -33.56% and -34.87%, respectively, from the 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. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.22% higher within the past month. Right now, Enphase Energy possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 41.25 right now. This denotes a premium relative to the industry's average Forward P/E of 12.14.
Meanwhile, ENPH's PEG ratio is currently 2.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Solar industry stood at 0.51 at the close of the market yesterday.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 224, this industry ranks in the bottom 12% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.