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Enphase Energy (ENPH) closed the most recent trading day at $193.43, moving +0.07% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.13%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.14%.
Heading into today, shares of the solar technology company had gained 18.94% over the past month, outpacing the Oils-Energy sector's loss of 4.13% and the S&P 500's loss of 3.32% in that time.
Wall Street will be looking for positivity from Enphase Energy as it approaches its next earnings report date. The company is expected to report EPS of $0.82, up 54.72% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $507.4 million, up 60.54% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.51 per share and revenue of $2.09 billion, which would represent changes of +45.64% and +51.19%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Enphase Energy. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 has moved 0.32% higher within the past month. Enphase Energy is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 55.07. For comparison, its industry has an average Forward P/E of 39.96, which means Enphase Energy is trading at a premium to the group.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 200, which puts it in the bottom 21% 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.