Brokerages Anticipate Enphase Energy Inc (ENPH) to Post $0.04 EPS

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Wall Street analysts expect Enphase Energy Inc (NASDAQ:ENPH) to report $0.04 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have made estimates for Enphase Energy’s earnings. Enphase Energy reported earnings of ($0.01) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 500%. The firm is expected to issue its next earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Enphase Energy will report full year earnings of $0.11 per share for the current financial year, with EPS estimates ranging from $0.08 to $0.12. For the next year, analysts forecast that the business will post earnings of $0.30 per share, with EPS estimates ranging from $0.17 to $0.35. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Enphase Energy.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 31st. The semiconductor company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $75.90 million during the quarter, compared to analysts’ expectations of $76.76 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The firm’s revenue was up 1.6% compared to the same quarter last year.

A number of research analysts recently issued reports on ENPH shares. Cowen lifted their price target on shares of Enphase Energy from $3.50 to $5.50 and gave the stock an “outperform” rating in a research note on Tuesday, April 24th. ValuEngine upgraded shares of Enphase Energy from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 2nd. Oppenheimer lifted their price target on shares of Enphase Energy from $4.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Friday, May 4th. Finally, HC Wainwright started coverage on shares of Enphase Energy in a research note on Wednesday, May 16th. They issued a “buy” rating and a $8.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $7.21.

Enphase Energy stock traded up $0.20 during trading on Monday, reaching $4.97. The stock had a trading volume of 3,199,800 shares, compared to its average volume of 2,632,604. Enphase Energy has a 52-week low of $0.82 and a 52-week high of $7.60. The company has a quick ratio of 1.20, a current ratio of 1.36 and a debt-to-equity ratio of -1.11. The company has a market capitalization of $553.01 million, a P/E ratio of -9.22 and a beta of 0.53.

In related news, CEO Badrinarayanan Kothandaraman acquired 15,000 shares of Enphase Energy stock in a transaction dated Monday, August 20th. The stock was acquired at an average price of $4.88 per share, for a total transaction of $73,200.00. Following the transaction, the chief executive officer now owns 95,677 shares of the company’s stock, valued at $466,903.76. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 13.52% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System purchased a new stake in shares of Enphase Energy during the 2nd quarter worth approximately $115,000. SG Americas Securities LLC purchased a new stake in shares of Enphase Energy during the 2nd quarter worth approximately $121,000. Goldman Sachs Group Inc. purchased a new stake in shares of Enphase Energy during the 4th quarter worth approximately $128,000. Verition Fund Management LLC purchased a new stake in shares of Enphase Energy during the 1st quarter worth approximately $131,000. Finally, Jane Street Group LLC purchased a new stake in shares of Enphase Energy during the 1st quarter worth approximately $133,000. Institutional investors and hedge funds own 31.20% of the company’s stock.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.

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