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Enphase Energy (ENPH) Dips More Than Broader Market: What You Should Know
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The latest trading session saw Enphase Energy (ENPH - Free Report) ending at $123.81, denoting a -0.62% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.5% for the day. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 1.23%.
Heading into today, shares of the solar technology company had gained 1.86% over the past month, outpacing the Oils-Energy sector's loss of 3.08% and the S&P 500's loss of 2.4% in that time.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company plans to announce its earnings on October 26, 2023. The company is expected to report EPS of $1.01, down 19.2% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $567.35 million, reflecting a 10.61% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.98 per share and a revenue of $2.65 billion, representing changes of +7.79% and +13.57%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Enphase Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. The Zacks Consensus EPS estimate has moved 0.9% lower within the past month. Enphase Energy presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Enphase Energy is presently being traded at a Forward P/E ratio of 25.02. Its industry sports an average Forward P/E of 19.64, so one might conclude that Enphase Energy is trading at a premium comparatively.
One should further note that ENPH currently holds a PEG ratio of 1.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.56.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 151, positioning it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 (ENPH) Dips More Than Broader Market: What You Should Know
The latest trading session saw Enphase Energy (ENPH - Free Report) ending at $123.81, denoting a -0.62% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 0.5% for the day. Elsewhere, the Dow saw an upswing of 0.12%, while the tech-heavy Nasdaq depreciated by 1.23%.
Heading into today, shares of the solar technology company had gained 1.86% over the past month, outpacing the Oils-Energy sector's loss of 3.08% and the S&P 500's loss of 2.4% in that time.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company plans to announce its earnings on October 26, 2023. The company is expected to report EPS of $1.01, down 19.2% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $567.35 million, reflecting a 10.61% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.98 per share and a revenue of $2.65 billion, representing changes of +7.79% and +13.57%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Enphase Energy. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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. The Zacks Consensus EPS estimate has moved 0.9% lower within the past month. Enphase Energy presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Enphase Energy is presently being traded at a Forward P/E ratio of 25.02. Its industry sports an average Forward P/E of 19.64, so one might conclude that Enphase Energy is trading at a premium comparatively.
One should further note that ENPH currently holds a PEG ratio of 1.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.56.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 151, positioning it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.