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Enphase Energy (ENPH) Outpaces Stock Market Gains: What You Should Know

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In the latest trading session, Enphase Energy (ENPH) closed at $209.63, marking a +1.29% move from the previous day. This change outpaced the S&P 500's 0.95% gain on the day. Elsewhere, the Dow gained 0.8%, while the tech-heavy Nasdaq lost 0.28%.

Prior to today's trading, shares of the solar technology company had gained 37.51% over the past month. This has outpaced the Oils-Energy sector's gain of 8.26% and the S&P 500's gain of 0.1% in that time.

Enphase Energy will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.81, up 52.83% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $507.67 million, up 60.62% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.48 per share and revenue of $2.07 billion. These totals would mark changes of +44.4% and +49.98%, respectively, from last year.

Investors should also note any 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.38% higher. Enphase Energy currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 59.43 right now. This represents a premium compared to its industry's average Forward P/E of 44.19.

The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 223, which puts it in the bottom 12% 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.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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