U.S. markets open in 1 hour 7 minutes
  • S&P Futures

    3,863.50
    +15.25 (+0.40%)
     
  • Dow Futures

    31,167.00
    +154.00 (+0.50%)
     
  • Nasdaq Futures

    11,938.75
    +58.50 (+0.49%)
     
  • Russell 2000 Futures

    1,738.10
    +9.50 (+0.55%)
     
  • Crude Oil

    99.89
    +1.36 (+1.38%)
     
  • Gold

    1,742.60
    +6.10 (+0.35%)
     
  • Silver

    19.30
    +0.14 (+0.74%)
     
  • EUR/USD

    1.0191
    +0.0006 (+0.06%)
     
  • 10-Yr Bond

    2.9130
    0.0000 (0.00%)
     
  • Vix

    26.50
    -1.04 (-3.78%)
     
  • GBP/USD

    1.1972
    +0.0050 (+0.42%)
     
  • USD/JPY

    135.7250
    -0.1900 (-0.14%)
     
  • BTC-USD

    20,439.22
    +372.23 (+1.85%)
     
  • CMC Crypto 200

    446.47
    +10.94 (+2.51%)
     
  • FTSE 100

    7,192.87
    +85.10 (+1.20%)
     
  • Nikkei 225

    26,490.53
    +382.88 (+1.47%)
     

Enphase Energy (ENPH) Gains As Market Dips: What You Should Know

  • Oops!
    Something went wrong.
    Please try again later.
·3 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

In the latest trading session, Enphase Energy (ENPH) closed at $179.52, marking a +0.72% move from the previous day. This change outpaced the S&P 500's 0.38% loss on the day. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.5%.

Prior to today's trading, shares of the solar technology company had gained 18.02% over the past month. This has outpaced the Oils-Energy sector's gain of 3.39% and the S&P 500's loss of 6.69% in that time.

Enphase Energy will be looking to display strength as it nears its next earnings release. On that day, Enphase Energy is projected to report earnings of $0.81 per share, which would represent year-over-year growth of 52.83%. Meanwhile, our latest consensus estimate is calling for revenue of $507.67 million, up 60.62% from the prior-year quarter.

ENPH's full-year Zacks Consensus Estimates are calling for earnings of $3.48 per share and revenue of $2.07 billion. These results would represent year-over-year changes of +44.4% and +49.98%, respectively.

It is also important to note the recent changes to analyst estimates for Enphase Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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.

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 0.38% higher. Enphase Energy is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, Enphase Energy is holding a Forward P/E ratio of 51.18. For comparison, its industry has an average Forward P/E of 37.43, which means Enphase Energy is trading at a premium to the group.

The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 15% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow ENPH in the coming trading sessions, be sure to utilize Zacks.com.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research