Enphase Energy, Inc. (NASDAQ:ENPH) Expected to Post Q2 2024 Earnings of $0.14 Per Share

Enphase Energy, Inc. (NASDAQ:ENPH) – Investment analysts at Northland Capmk decreased their Q2 2024 earnings estimates for shares of Enphase Energy in a research note issued to investors on Wednesday, April 24th. Northland Capmk analyst G. Richard now anticipates that the semiconductor company will post earnings per share of $0.14 for the quarter, down from their previous forecast of $0.29. The consensus estimate for Enphase Energy’s current full-year earnings is $1.56 per share. Northland Capmk also issued estimates for Enphase Energy’s Q3 2024 earnings at $0.41 EPS, FY2024 earnings at $1.13 EPS, Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.71 EPS, Q3 2025 earnings at $0.99 EPS, Q4 2025 earnings at $1.08 EPS and FY2025 earnings at $3.31 EPS.

Enphase Energy (NASDAQ:ENPH) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company dropped their price objective on shares of Enphase Energy from $141.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Citigroup cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $126.00 to $121.00 in a research note on Friday, April 5th. Canaccord Genuity Group assumed coverage on shares of Enphase Energy in a research note on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective for the company. Jefferies Financial Group cut shares of Enphase Energy from a “buy” rating to a “hold” rating and lowered their target price for the company from $135.00 to $111.00 in a report on Wednesday, April 24th. Finally, Morgan Stanley raised their price target on Enphase Energy from $97.00 to $106.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $137.41.

Enphase Energy Stock Up 3.8 %

ENPH stock opened at $111.93 on Monday. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $192.22. The stock has a fifty day moving average of $117.82 and a 200-day moving average of $111.63. The company has a market capitalization of $15.23 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.29 and a beta of 1.47. The company has a debt-to-equity ratio of 1.30, a quick ratio of 4.19 and a current ratio of 4.16.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ENPH. Vanguard Group Inc. boosted its holdings in Enphase Energy by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after acquiring an additional 192,854 shares during the period. Baillie Gifford & Co. lifted its position in Enphase Energy by 387,343.1% in the fourth quarter. Baillie Gifford & Co. now owns 4,079,776 shares of the semiconductor company’s stock valued at $539,102,000 after purchasing an additional 4,078,723 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Enphase Energy by 0.3% during the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock valued at $180,314,000 after purchasing an additional 3,940 shares during the period. Norges Bank bought a new position in shares of Enphase Energy in the fourth quarter worth approximately $149,425,000. Finally, Schroder Investment Management Group grew its holdings in shares of Enphase Energy by 3.3% in the third quarter. Schroder Investment Management Group now owns 1,124,265 shares of the semiconductor company’s stock worth $135,080,000 after purchasing an additional 35,681 shares during the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of the sale, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the sale, the director now owns 3,126 shares of the company’s stock, valued at $376,964.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Badrinarayanan Kothandaraman purchased 4,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average cost of $120.54 per share, for a total transaction of $482,160.00. Following the completion of the purchase, the chief executive officer now directly owns 1,655,171 shares of the company’s stock, valued at approximately $199,514,312.34. The disclosure for this purchase can be found here. Insiders have sold a total of 54,285 shares of company stock valued at $6,148,228 over the last 90 days. 3.40% of the stock is owned by insiders.

About Enphase Energy

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.