Yahoo Finance Enphase Energy (ENPH) Gains As Market Dips: What You Should Know
In the latest trading session, Enphase Energy (ENPH) closed at $108.02, marking a +1.27% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.31%. At the same time, the Dow added 0.67%, and the tech-heavy Nasdaq lost 1.09%.
Coming into today, shares of the solar technology company had lost 14.79% in the past month. In that same time, the Oils-Energy sector lost 4.31%, while the S&P 500 gained 2.73%.
The upcoming earnings release of Enphase Energy will be of great interest to investors. The company is expected to report EPS of $0.51, down 65.31% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $309.92 million, down 56.42% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.92 per share and a revenue of $1.49 billion, signifying shifts of -33.79% and -34.87%, respectively, from the last year.
Investors should also take note of any recent adjustments to analyst estimates for Enphase Energy. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.61% lower. As of now, Enphase Energy holds a Zacks Rank of #3 (Hold).
Digging into valuation, Enphase Energy currently has a Forward P/E ratio of 36.56. This indicates a premium in contrast to its industry's Forward P/E of 11.23.
One should further note that ENPH currently holds a PEG ratio of 2.15. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Solar stocks are, on average, holding a PEG ratio of 0.47 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report
