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Enphase Energy (ENPH) closed the most recent trading day at $178.94, moving -0.47% from the previous trading session. This move lagged the S&P 500's daily gain of 0.2%.
Heading into today, shares of the solar technology company had gained 5.61% over the past month, outpacing the Oils-Energy sector's loss of 7.15% and the S&P 500's gain of 3.28% in that time.
Investors will be hoping for strength from ENPH as it approaches its next earnings release, which is expected to be July 27, 2021. The company is expected to report EPS of $0.42, up 147.06% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $313.76 million, up 149.93% from the year-ago period.
ENPH's full-year Zacks Consensus Estimates are calling for earnings of $1.98 per share and revenue of $1.33 billion. These results would represent year-over-year changes of +44.53% and +71.21%, respectively.
It is also important to note the 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.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 1.72% lower. ENPH is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, ENPH is holding a Forward P/E ratio of 91.03. Its industry sports an average Forward P/E of 55.28, so we one might conclude that ENPH is trading at a premium comparatively.
We can also see that ENPH currently has a PEG ratio of 2.76. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Solar was holding an average PEG ratio of 2.76 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 240, which puts it in the bottom 6% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report
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