Enphase Energy (ENPH) closed the most recent trading day at $32.22, moving -3.82% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.46%. Meanwhile, the Dow gained 0.17%, and the Nasdaq, a tech-heavy index, added 0.57%.
Heading into today, shares of the solar technology company had gained 25.09% over the past month, outpacing the Oils-Energy sector's gain of 0.15% and the S&P 500's gain of 4.22%.
The upcoming earnings release of Enphase Energy will be of great interest to investors. In that report, analysts expect Enphase Energy to post earnings of $0.56 per share. This would mark a year-over-year decline of 40.43%. Meanwhile, the latest consensus estimate predicts the revenue to be $331.97 million, indicating a 13.26% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.79 per share and a revenue of $1.46 billion, demonstrating changes of +17.72% and +9.44%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates 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 business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 past month, the Zacks Consensus EPS estimate has remained steady. 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 12.01. This valuation marks a discount compared to its industry average Forward P/E of 18.06.
The Solar industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 44, this industry ranks in the top 18% of all industries, numbering over 250.
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.
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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