Enphase Energy (NASDAQ:ENPH) Releases Earnings Results, Misses Expectations By $0.06 EPS

Enphase Energy (NASDAQ:ENPH) released its earnings results on Tuesday. The semiconductor company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06), Briefing.com reports. The business had revenue of $303.80 million during the quarter, compared to analysts’ expectations of $309.73 million. Enphase Energy had a return on equity of 16.90% and a net margin of 9.12%. The firm’s quarterly revenue was down 57.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 earnings per share. Enphase Energy updated its Q3 2024 guidance to EPS.

Enphase Energy Stock Performance

Shares of Enphase Energy stock traded up $2.28 on Thursday, reaching $119.19. 2,193,913 shares of the stock were exchanged, compared to its average volume of 4,180,801. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $176.00. The firm has a market capitalization of $16.22 billion, a price-to-earnings ratio of 60.89, a PEG ratio of 4.79 and a beta of 1.71. The business has a 50 day moving average price of $115.20 and a two-hundred day moving average price of $115.30.

Insider Buying and Selling

In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the completion of the transaction, the executive vice president now directly owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Thurman J. Rodgers sold 319,526 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $126.53, for a total transaction of $40,429,624.78. Following the completion of the sale, the director now directly owns 1,984,562 shares in the company, valued at $251,106,629.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $123.27, for a total value of $616,350.00. Following the sale, the executive vice president now owns 107,943 shares of the company’s stock, valued at $13,306,133.61. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ENPH. Roth Mkm reaffirmed a “buy” rating and set a $140.00 price target on shares of Enphase Energy in a research report on Wednesday. DZ Bank began coverage on shares of Enphase Energy in a research report on Wednesday, April 17th. They set a “hold” rating and a $116.00 price target for the company. Bank of America reduced their price target on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. upped their price target on shares of Enphase Energy from $124.00 to $130.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Finally, Barclays reduced their target price on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $129.70.

Enphase Energy Company Profile

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