Enphase Energy (ENPH) closed the latest trading day at $61.65, indicating a +1.55% change from the previous session's end. This change outpaced the S&P 500's 1.97% loss on the day. Elsewhere, the Dow lost 1.69%, while the tech-heavy Nasdaq lost 2.7%.
Prior to today's trading, shares of the solar technology company had lost 0.78% over the past month. This has lagged the Oils-Energy sector's gain of 3.54% and was narrower than the S&P 500's loss of 2.79% in that time.
Market participants will be closely following the financial results of Enphase Energy in its upcoming release. In that report, analysts expect Enphase Energy to post earnings of $0.70 per share. This would mark year-over-year growth of 100%. Our most recent consensus estimate is calling for quarterly revenue of $359.08 million, up 36.36% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.34 per share and revenue of $1.54 billion, indicating changes of +40.93% and +15.64%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Enphase Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.14% lower. At present, Enphase Energy boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Enphase Energy is at present trading with a Forward P/E ratio of 18.15. This represents a premium compared to its industry's average Forward P/E of 10.11.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 79, positioning it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Enphase Energy, Inc. (ENPH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
