Enphase Energy Inc (ENPH) Expected to Announce Quarterly Sales of $75.91 Million

Wall Street brokerages predict that Enphase Energy Inc (NASDAQ:ENPH) will report sales of $75.91 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Enphase Energy’s earnings, with the lowest sales estimate coming in at $74.30 million and the highest estimate coming in at $78.00 million. Enphase Energy reported sales of $90.60 million in the same quarter last year, which indicates a negative year over year growth rate of 16.2%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 27th.

On average, analysts expect that Enphase Energy will report full-year sales of $75.91 million for the current fiscal year, with estimates ranging from $280.70 million to $284.50 million. For the next financial year, analysts expect that the business will report sales of $324.17 million per share, with estimates ranging from $309.80 million to $332.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Enphase Energy.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, November 7th. The semiconductor company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $77.00 million for the quarter, compared to the consensus estimate of $77.13 million. Enphase Energy had a negative return on equity of 1,232.10% and a negative net margin of 18.66%. The company’s revenue was down 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.28) earnings per share.

A number of brokerages have issued reports on ENPH. Zacks Investment Research downgraded Enphase Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. Craig Hallum reiterated a “buy” rating and set a $4.00 price target on shares of Enphase Energy in a research report on Monday, November 20th. Cowen reiterated a “buy” rating and set a $2.25 price target on shares of Enphase Energy in a research report on Friday, November 10th. Finally, ValuEngine downgraded Enphase Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $2.10.

In other Enphase Energy news, Director John Howard Weber sold 55,526 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $2.64, for a total transaction of $146,588.64. Following the completion of the transaction, the director now owns 35,326 shares of the company’s stock, valued at $93,260.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Badrinarayanan Kothandaraman bought 40,677 shares of Enphase Energy stock in a transaction on Thursday, November 9th. The shares were purchased at an average cost of $1.78 per share, with a total value of $72,405.06. Following the acquisition, the chief executive officer now directly owns 40,677 shares of the company’s stock, valued at $72,405.06. The disclosure for this purchase can be found here. Corporate insiders own 15.92% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Engineers Gate Manager LP acquired a new position in shares of Enphase Energy during the fourth quarter valued at approximately $244,000. Northern Trust Corp increased its holdings in shares of Enphase Energy by 4.6% in the second quarter. Northern Trust Corp now owns 125,328 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 5,479 shares during the last quarter. KBC Group NV increased its holdings in shares of Enphase Energy by 101.3% in the third quarter. KBC Group NV now owns 180,137 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 90,665 shares during the last quarter. K2 Principal Fund L.P. increased its holdings in shares of Enphase Energy by 14.9% in the third quarter. K2 Principal Fund L.P. now owns 506,570 shares of the semiconductor company’s stock valued at $770,000 after purchasing an additional 65,760 shares during the last quarter. Finally, Wasatch Advisors Inc. increased its holdings in shares of Enphase Energy by 197.0% in the third quarter. Wasatch Advisors Inc. now owns 753,789 shares of the semiconductor company’s stock valued at $1,146,000 after purchasing an additional 500,000 shares during the last quarter. 22.32% of the stock is owned by institutional investors and hedge funds.

Enphase Energy (NASDAQ:ENPH) opened at $2.30 on Tuesday. The stock has a market capitalization of $196.72, a P/E ratio of -3.11 and a beta of 1.36. The company has a current ratio of 1.59, a quick ratio of 1.30 and a debt-to-equity ratio of -4.75. Enphase Energy has a 1 year low of $0.65 and a 1 year high of $3.45.

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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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