Zacks: Analysts Anticipate Enphase Energy, Inc. (ENPH) Will Post 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, according to Zacks Investment Research. Four analysts have provided estimates for Enphase Energy’s earnings, with the highest sales estimate coming in at $77.72 million and the lowest estimate coming in at $76.00 million. Enphase Energy posted sales of $88.68 million during the same quarter last year, which suggests a negative year-over-year growth rate of 13.2%. The company is scheduled to announce its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Enphase Energy will report full year sales of $76.96 million for the current financial year, with estimates ranging from $278.57 million to $300.10 million. For the next financial year, analysts expect that the business will report sales of $344.37 million per share, with estimates ranging from $317.40 million to $364.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Enphase Energy.
Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $74.48 million. During the same period last year, the business earned ($0.30) EPS. The firm’s revenue was down 5.7% compared to the same quarter last year.
Several equities research analysts recently weighed in on ENPH shares. Cowen and Company restated a “buy” rating and issued a $2.00 target price on shares of Enphase Energy in a report on Sunday, September 24th. Needham & Company LLC restated a “hold” rating on shares of Enphase Energy in a report on Tuesday, September 26th. ValuEngine upgraded Enphase Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 27th. Finally, Zacks Investment Research lowered Enphase Energy from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $2.08.
Shares of Enphase Energy (NASDAQ ENPH) opened at 1.37 on Friday. The firm has a 50-day moving average of $1.38 and a 200 day moving average of $1.05. Enphase Energy has a 12 month low of $0.65 and a 12 month high of $2.03. The firm’s market cap is $115.88 million.
ILLEGAL ACTIVITY WARNING: “Zacks: Analysts Anticipate Enphase Energy, Inc. (ENPH) Will Post Quarterly Sales of $76.96 Million” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The original version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/22/zacks-analysts-anticipate-enphase-energy-inc-enph-will-post-quarterly-sales-of-76-96-million.html.
Several hedge funds have recently modified their holdings of the company. Divisar Capital Management LLC lifted its holdings in shares of Enphase Energy by 11.8% during the second quarter. Divisar Capital Management LLC now owns 1,131,297 shares of the semiconductor company’s stock worth $979,000 after buying an additional 119,459 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Enphase Energy by 10,872.8% during the second quarter. Goldman Sachs Group Inc. now owns 1,846,393 shares of the semiconductor company’s stock worth $1,597,000 after buying an additional 1,829,566 shares during the last quarter. K2 Principal Fund L.P. lifted its holdings in shares of Enphase Energy by 470.1% during the second quarter. K2 Principal Fund L.P. now owns 440,810 shares of the semiconductor company’s stock worth $381,000 after buying an additional 363,490 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Enphase Energy by 4.6% during the second quarter. Vanguard Group Inc. now owns 1,939,428 shares of the semiconductor company’s stock worth $1,678,000 after buying an additional 84,549 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Enphase Energy by 4.6% during 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 last quarter. Institutional investors own 19.19% of the company’s stock.
Enphase Energy Company Profile
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.