-$0.12 Earnings Per Share Expected for Enphase Energy, Inc. (NASDAQ:ENPH) This Quarter
Wall Street analysts expect Enphase Energy, Inc. (NASDAQ:ENPH) to report earnings of ($0.12) per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Enphase Energy’s earnings, with estimates ranging from ($0.17) to ($0.06). Enphase Energy posted earnings of ($0.36) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 66.7%. The company is scheduled to announce its next earnings report on Tuesday, August 1st.
According to Zacks, analysts expect that Enphase Energy will report full year earnings of ($0.50) per share for the current fiscal year, with EPS estimates ranging from ($0.53) to ($0.47). For the next financial year, analysts forecast that the company will post earnings of ($0.11) per share, with EPS estimates ranging from ($0.18) to $0.02. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Enphase Energy.
Enphase Energy (NASDAQ:ENPH) last announced its earnings results on Tuesday, May 9th. The semiconductor company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.05. The firm had revenue of $54.75 million for the quarter, compared to the consensus estimate of $62.72 million. Enphase Energy had a negative return on equity of 757.76% and a negative net margin of 22.98%. The firm’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.34) EPS.
Several research firms have issued reports on ENPH. Roth Capital set a $1.00 price objective on Enphase Energy and gave the stock a “hold” rating in a report on Thursday, June 22nd. Zacks Investment Research raised Enphase Energy from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Deutsche Bank AG raised Enphase Energy from a “sell” rating to a “hold” rating and set a $1.00 price objective on the stock in a report on Tuesday, June 20th. Craig Hallum set a $2.00 price objective on Enphase Energy and gave the stock a “buy” rating in a report on Monday, June 12th. Finally, ValuEngine downgraded Enphase Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $1.96.
COPYRIGHT VIOLATION WARNING: “-$0.12 Earnings Per Share Expected for Enphase Energy, Inc. (NASDAQ:ENPH) This Quarter” was posted by American Banking News and is the property of of American Banking News. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/07/18/0-12-earnings-per-share-expected-for-enphase-energy-inc-nasdaqenph-this-quarter.html.
A number of institutional investors have recently added to or reduced their stakes in ENPH. Renaissance Technologies LLC purchased a new position in Enphase Energy during the fourth quarter worth about $412,000. Trellus Management Company LLC purchased a new position in Enphase Energy during the first quarter worth about $171,000. KBC Group NV boosted its position in Enphase Energy by 40.8% in the first quarter. KBC Group NV now owns 89,472 shares of the semiconductor company’s stock worth $123,000 after buying an additional 25,926 shares during the period. First Trust Advisors LP purchased a new position in Enphase Energy during the first quarter worth about $111,000. Finally, K2 Principal Fund L.P. purchased a new position in Enphase Energy during the first quarter worth about $106,000. Hedge funds and other institutional investors own 26.15% of the company’s stock.
Shares of Enphase Energy (NASDAQ ENPH) opened at 0.795 on Tuesday. Enphase Energy has a 1-year low of $0.65 and a 1-year high of $2.03. The company’s market cap is $67.00 million. The stock has a 50 day moving average price of $0.79 and a 200-day moving average price of $1.22.
About Enphase Energy
Enphase Energy, Inc is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Enphase Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.