Zacks: Analysts Anticipate Enphase Energy, Inc. (NASDAQ:ENPH) Will Announce Earnings of -$0.12 Per Share
Brokerages expect Enphase Energy, Inc. (NASDAQ:ENPH) to report ($0.12) earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Enphase Energy’s earnings, with the highest EPS estimate coming in at ($0.06) and the lowest estimate coming in at ($0.17). Enphase Energy posted earnings per share of ($0.36) in the same quarter last year, which indicates a positive year-over-year growth rate of 66.7%. The company is expected to issue its next earnings report after the market closes on Tuesday, August 8th.
On average, 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 fiscal year, analysts forecast that the business will post earnings of ($0.11) per share, with EPS estimates ranging from ($0.18) to $0.02. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Enphase Energy.
Enphase Energy (NASDAQ:ENPH) last released its quarterly 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 analysts’ expectations of $62.72 million. Enphase Energy had a negative return on equity of 757.76% and a negative net margin of 22.98%. The company’s revenue was down 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.34) EPS.
A number of brokerages have weighed in on ENPH. Roth Capital set a $1.00 price objective on shares of Enphase Energy and gave the stock a “hold” rating in a research report on Wednesday, May 10th. Zacks Investment Research cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a research note on Monday, May 15th. ValuEngine cut shares of Enphase Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Craig Hallum set a $2.00 price objective on shares of Enphase Energy and gave the company a “buy” rating in a research note on Monday, June 12th. Finally, Deutsche Bank AG raised shares of Enphase Energy from a “sell” rating to a “hold” rating and set a $1.00 price objective for the company in a research note on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Enphase Energy presently has a consensus rating of “Hold” and a consensus target price of $1.96.
Enphase Energy (NASDAQ:ENPH) traded up 0.0324% during midday trading on Monday, hitting $0.9263. The stock had a trading volume of 72,959 shares. Enphase Energy has a 52-week low of $0.65 and a 52-week high of $2.03. The firm has a 50-day moving average of $0.85 and a 200 day moving average of $1.17. The firm’s market capitalization is $78.06 million.
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Hedge funds and other institutional investors have recently modified their holdings of the company. KBC Group NV increased its position in shares of Enphase Energy by 40.8% in the first quarter. KBC Group NV now owns 89,472 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 25,926 shares during the last quarter. First Trust Advisors LP boosted its stake in Enphase Energy by 55.4% in the second quarter. First Trust Advisors LP now owns 125,973 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 44,908 shares during the period. K2 Principal Fund L.P. purchased a new stake in Enphase Energy during the first quarter valued at approximately $106,000. Divisar Capital Management LLC boosted its stake in Enphase Energy by 11.8% in the first quarter. Divisar Capital Management LLC now owns 1,011,838 shares of the semiconductor company’s stock valued at $1,386,000 after buying an additional 106,766 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Enphase Energy by 28.2% in the first quarter. Renaissance Technologies LLC now owns 523,033 shares of the semiconductor company’s stock valued at $717,000 after buying an additional 114,900 shares during the period. 25.69% of the stock is currently owned by institutional investors.
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.
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