Enphase Energy (ENPH) closed at $15.63 in the latest trading session, marking a -1.8% move from the prior day. This change lagged the S&P 500's daily gain of 0.61%. At the same time, the Dow added 0.71%, and the tech-heavy Nasdaq gained 0.53%.
Heading into today, shares of the solar technology company had gained 14.29% over the past month, outpacing the Oils-Energy sector's loss of 5.35% and the S&P 500's loss of 3.77% in that time.
Wall Street will be looking for positivity from ENPH as it approaches its next earnings report date. On that day, ENPH is projected to report earnings of $0.14 per share, which would represent year-over-year growth of 600%. Meanwhile, our latest consensus estimate is calling for revenue of $121.45 million, up 60.01% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.52 per share and revenue of $483.43 million. These totals would mark changes of +420% and +52.91%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ENPH. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection remained stagnant. ENPH is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that ENPH has a Forward P/E ratio of 30.61 right now. For comparison, its industry has an average Forward P/E of 17.06, which means ENPH 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 98, putting it in the top 39% 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.
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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