Enphase Energy Inc (NASDAQ:ENPH) Expected to Post Earnings of $0.25 Per Share

Brokerages forecast that Enphase Energy Inc (NASDAQ:ENPH) will announce $0.25 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Enphase Energy’s earnings, with estimates ranging from $0.24 to $0.26. Enphase Energy posted earnings per share of $0.04 in the same quarter last year, which would suggest a positive year over year growth rate of 525%. The company is scheduled to issue its next earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Enphase Energy will report full year earnings of $0.79 per share for the current financial year, with EPS estimates ranging from $0.75 to $0.84. For the next fiscal year, analysts forecast that the business will post earnings of $0.98 per share, with EPS estimates ranging from $0.68 to $1.18. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover Enphase Energy.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.09. The business had revenue of $134.09 million during the quarter, compared to analyst estimates of $120.36 million. Enphase Energy had a net margin of 2.63% and a return on equity of 31.17%. The company’s revenue was up 76.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share.

A number of equities analysts have weighed in on the stock. Oppenheimer upped their price target on shares of Enphase Energy from $13.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. B. Riley reiterated a “buy” rating and issued a $21.00 price target on shares of Enphase Energy in a research report on Wednesday, June 12th. ValuEngine upgraded shares of Enphase Energy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 1st. Northland Securities began coverage on shares of Enphase Energy in a report on Wednesday, June 26th. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, Zacks Investment Research raised shares of Enphase Energy from a “hold” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. Enphase Energy currently has an average rating of “Buy” and a consensus target price of $32.25.

A number of institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC bought a new position in shares of Enphase Energy in the second quarter worth about $26,000. Steward Partners Investment Advisory LLC bought a new position in Enphase Energy during the 2nd quarter worth about $54,000. Meeder Asset Management Inc. bought a new position in Enphase Energy during the 2nd quarter worth about $89,000. Cambridge Trust Co. bought a new position in Enphase Energy during the 1st quarter worth about $115,000. Finally, SG Americas Securities LLC bought a new position in Enphase Energy during the 1st quarter worth about $124,000. 43.65% of the stock is currently owned by institutional investors.

ENPH opened at $29.78 on Friday. The firm has a market cap of $3.92 billion, a P/E ratio of -248.17 and a beta of 1.01. Enphase Energy has a 1-year low of $3.70 and a 1-year high of $32.80. The company has a 50 day simple moving average of $23.14 and a two-hundred day simple moving average of $14.41. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.44 and a quick ratio of 2.30.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.

Read More: How do analysts define an oversold condition?

Get a free copy of the Zacks research report on Enphase Energy (ENPH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Enphase Energy (NASDAQ:ENPH)

Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.