$0.65 Earnings Per Share Expected for Enphase Energy, Inc. (NASDAQ:ENPH) This Quarter

Equities analysts forecast that Enphase Energy, Inc. (NASDAQ:ENPHGet Rating) will announce earnings of $0.65 per share for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Enphase Energy’s earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.77. Enphase Energy posted earnings of $0.56 per share during the same quarter last year, which indicates a positive year over year growth rate of 16.1%. The business is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Enphase Energy will report full year earnings of $3.15 per share for the current financial year, with EPS estimates ranging from $2.48 to $3.66. For the next year, analysts anticipate that the company will post earnings of $4.24 per share, with EPS estimates ranging from $3.63 to $5.18. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Enphase Energy.

Enphase Energy (NASDAQ:ENPHGet Rating) last released its earnings results on Tuesday, February 8th. The semiconductor company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.18. The firm had revenue of $412.72 million for the quarter, compared to analysts’ expectations of $399.62 million. Enphase Energy had a net margin of 10.52% and a return on equity of 39.09%. The company’s quarterly revenue was up 55.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.47 earnings per share.

ENPH has been the topic of several research reports. Stephens initiated coverage on shares of Enphase Energy in a research report on Wednesday, April 13th. They issued an “overweight” rating and a $280.00 price target on the stock. Bank of America lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $297.00 to $187.00 in a research report on Wednesday, January 5th. Piper Sandler boosted their price target on shares of Enphase Energy from $227.00 to $237.00 in a research report on Monday, March 14th. Needham & Company LLC lowered their price target on shares of Enphase Energy from $294.00 to $255.00 in a research report on Thursday, February 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Enphase Energy from $313.00 to $255.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 8th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, Enphase Energy has an average rating of “Buy” and a consensus price target of $239.99.

ENPH opened at $190.51 on Friday. The company’s 50-day moving average price is $174.43 and its two-hundred day moving average price is $184.22. Enphase Energy has a twelve month low of $108.88 and a twelve month high of $282.46. The company has a quick ratio of 3.16, a current ratio of 3.33 and a debt-to-equity ratio of 2.21. The stock has a market cap of $25.71 billion, a price-to-earnings ratio of 186.78 and a beta of 1.27.

In related news, CEO Badrinarayanan Kothandaraman sold 80,000 shares of Enphase Energy stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $175.65, for a total value of $14,052,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Ian Malchow sold 4,460 shares of Enphase Energy stock in a transaction on Monday, March 14th. The stock was sold at an average price of $156.05, for a total transaction of $695,983.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 255,577 shares of company stock worth $43,780,910. Corporate insiders own 5.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ENPH. BlackRock Inc. grew its holdings in Enphase Energy by 7.4% in the 4th quarter. BlackRock Inc. now owns 14,961,479 shares of the semiconductor company’s stock worth $2,737,054,000 after acquiring an additional 1,030,920 shares during the last quarter. Norges Bank bought a new stake in Enphase Energy in the 4th quarter worth $187,827,000. Allspring Global Investments Holdings LLC bought a new stake in Enphase Energy in the 4th quarter worth $165,172,000. Renaissance Technologies LLC bought a new stake in Enphase Energy in the 4th quarter worth $155,157,000. Finally, Brown Advisory Inc. grew its holdings in Enphase Energy by 55.7% in the 4th quarter. Brown Advisory Inc. now owns 1,227,816 shares of the semiconductor company’s stock worth $224,617,000 after acquiring an additional 438,989 shares during the last quarter. 70.39% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy Company Profile (Get Rating)

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level, and combines with its proprietary networking and software technologies to provide energy monitoring and control services.

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