Enphase Energy, Inc. (ENPH) Expected to Announce Quarterly Sales of $76.96 Million
Brokerages expect Enphase Energy, Inc. (NASDAQ:ENPH) to post $76.96 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Enphase Energy’s earnings. The highest sales estimate is $77.72 million and the lowest is $76.00 million. Enphase Energy reported sales of $88.68 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 13.2%. The business is expected to report its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that Enphase Energy will report full year sales of $76.96 million for the current year, with estimates ranging from $278.57 million to $300.10 million. For the next financial year, analysts anticipate that the company will post sales of $344.37 million per share, with estimates ranging from $317.40 million to $364.20 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Enphase Energy.
Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.01. Enphase Energy had a negative net margin of 21.81% and a negative return on equity of 1,232.10%. The firm had revenue of $74.70 million for the quarter, compared to the consensus estimate of $74.48 million. During the same quarter last year, the firm earned ($0.30) EPS. The company’s revenue was down 5.7% on a year-over-year basis.
Several research firms recently weighed in on ENPH. Zacks Investment Research upgraded Enphase Energy from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. Roth Capital set a $1.00 target price on Enphase Energy and gave the stock a “hold” rating in a research report on Thursday, June 22nd. ValuEngine downgraded Enphase Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Deutsche Bank AG upgraded Enphase Energy from a “sell” rating to a “hold” rating and set a $1.00 target price on the stock in a research report on Tuesday, June 20th. Finally, Craig Hallum set a $2.00 target price on Enphase Energy and gave the stock a “buy” rating in a research report on Monday, June 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $1.96.
Large investors have recently bought and sold shares of the stock. K2 Principal Fund L.P. bought a new stake in Enphase Energy during the first quarter worth about $106,000. Northern Trust Corp raised its stake in Enphase Energy by 4.6% in the second quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock worth $108,000 after buying an additional 5,479 shares during the period. First Trust Advisors LP raised 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 worth $109,000 after buying an additional 44,908 shares during the period. KBC Group NV raised its stake 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. Finally, Trellus Management Company LLC bought a new stake in Enphase Energy during the first quarter worth about $171,000. Institutional investors and hedge funds own 25.73% of the company’s stock.
Enphase Energy (NASDAQ:ENPH) opened at 0.9375 on Friday. The company’s market cap is $79.29 million. The firm’s 50-day moving average is $0.87 and its 200-day moving average is $1.08. Enphase Energy has a 52-week low of $0.65 and a 52-week high of $2.03.
ILLEGAL ACTIVITY WARNING: This news story was originally published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/27/enphase-energy-inc-enph-expected-to-announce-quarterly-sales-of-76-96-million.html.
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.