In the latest close session, Enphase Energy (ENPH) was down 2.87% at $32.18. This move lagged the S&P 500's daily loss of 0.14%. Elsewhere, the Dow lost 0.2%, while the tech-heavy Nasdaq lost 0.24%.
Shares of the solar technology company have appreciated by 15.92% over the course of the past month, outperforming the Oils-Energy sector's loss of 1.02%, and the S&P 500's gain of 0.94%.
The investment community will be closely monitoring the performance of Enphase Energy in its forthcoming earnings report. The company is predicted to post an EPS of $0.52, indicating a 44.68% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $331.97 million, down 13.26% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.77 per share and a revenue of $1.46 billion, signifying shifts of +16.88% and +9.73%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Enphase Energy. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Enphase Energy possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 11.94 right now. This expresses a discount compared to the average Forward P/E of 17.29 of its industry.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 46, finds itself in the top 19% 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, Inc. (ENPH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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