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Enphase Energy (ENPH) Stock Drops Despite Market Gains: Important Facts to Note
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The latest trading session saw Enphase Energy (ENPH - Free Report) ending at $74.23, denoting a -0.3% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.82% for the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 1.77%.
The the stock of solar technology company has risen by 23.9% in the past month, leading the Oils-Energy sector's loss of 2.1% and the S&P 500's gain of 0.8%.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company's earnings per share (EPS) are projected to be $0.75, reflecting a 38.89% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $376.7 million, up 24.5% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.21 per share and revenue of $1.33 billion. These totals would mark changes of -49.89% and -42.06%, respectively, from last year.
Investors should also note any 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.65% higher. Enphase Energy is holding a Zacks Rank of #5 (Strong Sell) right now.
Looking at valuation, Enphase Energy is presently trading at a Forward P/E ratio of 33.65. This represents a premium compared to its industry's average Forward P/E of 15.38.
Also, we should mention that ENPH has a PEG ratio of 9.43. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Solar was holding an average PEG ratio of 0.8 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 153, finds itself in the bottom 40% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Enphase Energy (ENPH) Stock Drops Despite Market Gains: Important Facts to Note
The latest trading session saw Enphase Energy (ENPH - Free Report) ending at $74.23, denoting a -0.3% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.82% for the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 1.77%.
The the stock of solar technology company has risen by 23.9% in the past month, leading the Oils-Energy sector's loss of 2.1% and the S&P 500's gain of 0.8%.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. The company's earnings per share (EPS) are projected to be $0.75, reflecting a 38.89% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $376.7 million, up 24.5% from the year-ago period.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.21 per share and revenue of $1.33 billion. These totals would mark changes of -49.89% and -42.06%, respectively, from last year.
Investors should also note any 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.65% higher. Enphase Energy is holding a Zacks Rank of #5 (Strong Sell) right now.
Looking at valuation, Enphase Energy is presently trading at a Forward P/E ratio of 33.65. This represents a premium compared to its industry's average Forward P/E of 15.38.
Also, we should mention that ENPH has a PEG ratio of 9.43. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Solar was holding an average PEG ratio of 0.8 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 153, finds itself in the bottom 40% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.