In the latest trading session, Enphase Energy (ENPH) closed at $57.74, marking a -0.36% move from the previous day. This move lagged the S&P 500's daily loss of 0.34%. Meanwhile, the Dow lost 0.5%, and the Nasdaq, a tech-heavy index, lost 0.73%.
Coming into today, shares of the solar technology company had gained 48.44% in the past month. In that same time, the Oils-Energy sector lost 1.56%, while the S&P 500 gained 5.71%.
ENPH will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2020. The company is expected to report EPS of $0.14, down 22.22% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $124.37 million, down 7.25% from the year-ago period.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $1.03 per share and revenue of $704.83 million. These results would represent year-over-year changes of +8.42% and +12.89%, respectively.
Investors might also notice recent changes to analyst estimates for ENPH. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.99% higher. ENPH is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, ENPH currently has a Forward P/E ratio of 56.26. This represents a premium compared to its industry's average Forward P/E of 34.23.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% 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.
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 Report
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