Enphase Energy (ENPH) closed the most recent trading day at $38.81, moving -2.12% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.21%. On the other hand, the Dow registered a gain of 0.25%, and the technology-centric Nasdaq increased by 0.45%.
The solar technology company's shares have seen an increase of 22.23% over the last month, surpassing the Oils-Energy sector's loss of 0.15% and the S&P 500's gain of 3.07%.
The investment community will be paying close attention to the earnings performance of Enphase Energy in its upcoming release. The company's upcoming EPS is projected at $0.6, signifying a 7.69% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $359.53 million, showing a 5.6% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.56 per share and revenue of $1.45 billion, which would represent changes of +8.02% and +8.83%, respectively, from the prior year.
Any recent changes to analyst estimates for Enphase Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.14% decrease. At present, Enphase Energy boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Enphase Energy currently has a Forward P/E ratio of 15.49. This denotes a discount relative to the industry average Forward P/E of 18.08.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 97, this industry ranks in the top 40% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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, Inc. (ENPH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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