Enphase Energy (ENPH) closed the most recent trading day at $42.99, moving -3.5% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.45%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 1.16%.
Shares of the solar technology company witnessed a loss of 21.68% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 5.87%, and the S&P 500's gain of 2.14%.
The upcoming earnings release of Enphase Energy will be of great interest to investors. The company's earnings per share (EPS) are projected to be $0.45, reflecting a 34.78% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $291.74 million, indicating a 19.66% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.12 per share and revenue of $1.23 billion, which would represent changes of -28.38% and -16.78%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Enphase Energy. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.1% higher. Enphase Energy is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, Enphase Energy is currently exchanging hands at a Forward P/E ratio of 20.98. Its industry sports an average Forward P/E of 20.98, so one might conclude that Enphase Energy is trading at no noticeable deviation comparatively.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 70, finds itself in the top 29% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Enphase Energy, Inc. (ENPH): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).