Q2 2024 EPS Estimates for Enphase Energy, Inc. Reduced by Capital One Financial (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Capital One Financial lowered their Q2 2024 EPS estimates for Enphase Energy in a note issued to investors on Wednesday, April 24th. Capital One Financial analyst W. Suki now anticipates that the semiconductor company will post earnings per share of $0.17 for the quarter, down from their prior forecast of $0.29. The consensus estimate for Enphase Energy’s current full-year earnings is $1.56 per share. Capital One Financial also issued estimates for Enphase Energy’s Q3 2024 earnings at $0.40 EPS, Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $1.27 EPS and FY2025 earnings at $2.99 EPS.

A number of other equities research analysts have also weighed in on the company. BMO Capital Markets lowered their price objective on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Roth Mkm restated a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a research note on Wednesday, April 24th. StockNews.com cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. TD Cowen raised their price objective on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, DZ Bank initiated coverage on shares of Enphase Energy in a research note on Wednesday, April 17th. They issued a “hold” rating and a $116.00 target price on the stock. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus price target of $137.41.

Enphase Energy Stock Up 3.8 %

Shares of NASDAQ ENPH opened at $111.93 on Monday. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of 58.30, a PEG ratio of 3.29 and a beta of 1.47. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $192.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 4.19 and a current ratio of 4.16. The stock’s 50-day simple moving average is $117.82 and its 200-day simple moving average is $111.63.

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

Insider Buying and Selling at Enphase Energy

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

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in ENPH. Donoghue Forlines LLC boosted its holdings in shares of Enphase Energy by 4.8% in the fourth quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock valued at $258,000 after acquiring an additional 90 shares in the last quarter. Fermata Advisors LLC boosted its stake in Enphase Energy by 1.4% during the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock valued at $855,000 after purchasing an additional 100 shares in the last quarter. Fulton Breakefield Broenniman LLC increased its position in shares of Enphase Energy by 0.9% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock valued at $1,505,000 after purchasing an additional 107 shares during the period. VitalStone Financial LLC increased its position in shares of Enphase Energy by 14.3% during the 4th quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock valued at $117,000 after purchasing an additional 111 shares during the period. Finally, E Fund Management Co. Ltd. raised its stake in shares of Enphase Energy by 5.5% in the 3rd quarter. E Fund Management Co. Ltd. now owns 2,526 shares of the semiconductor company’s stock worth $303,000 after buying an additional 131 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

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.