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The most recent trading session ended with Enphase Energy (ENPH) standing at $62.77, reflecting a +0.98% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.16%. Meanwhile, the Dow experienced a rise of 0.01%, and the technology-dominated Nasdaq saw an increase of 0.46%.
Coming into today, shares of the solar technology company had lost 5.93% in the past month. In that same time, the Oils-Energy sector gained 1.79%, while the S&P 500 lost 3.59%.
The upcoming earnings release of Enphase Energy will be of great interest to investors. The company is forecasted to report an EPS of $0.70, showcasing a 100% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $359.08 million, up 36.36% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.34 per share and a revenue of $1.54 billion, representing changes of +40.93% and +15.64%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Enphase Energy. 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 demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. The Zacks Consensus EPS estimate has moved 1.37% lower within the past month. Enphase Energy is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Enphase Energy is at present trading with a Forward P/E ratio of 18.59. This represents a premium compared to its industry's average Forward P/E of 10.29.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 72, positioning it in the top 29% 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.