Enphase Energy (ENPH) to Release Earnings on Tuesday

Enphase Energy (NASDAQ:ENPH) is scheduled to announce its earnings results after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Enphase Energy has set its Q1 2024 guidance at EPS.Investors interested in listening to the company’s conference call can do so using this link.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a net margin of 19.16% and a return on equity of 47.73%. The firm had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million. On average, analysts expect Enphase Energy to post $2 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Enphase Energy Price Performance

Enphase Energy stock opened at $112.47 on Tuesday. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $231.42. The stock has a market cap of $15.29 billion, a P/E ratio of 36.76, a PEG ratio of 3.24 and a beta of 1.47. The company has a 50-day moving average price of $120.24 and a 200 day moving average price of $112.26. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ENPH shares. BMO Capital Markets raised their price objective on shares of Enphase Energy from $106.00 to $110.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 7th. Truist Financial upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $145.00 in a research report on Tuesday, January 23rd. Citigroup cut shares of Enphase Energy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $126.00 to $121.00 in a research report on Friday, April 5th. StockNews.com cut shares of Enphase Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Finally, Canaccord Genuity Group started coverage on shares of Enphase Energy in a research report on Tuesday, January 16th. They set a “buy” rating and a $142.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and an average target price of $151.03.

Insider Buying and Selling

In related news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $120.59, for a total value of $2,928,528.15. Following the completion of the transaction, the director now owns 3,126 shares in the company, valued at $376,964.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the completion of the sale, the executive vice president now owns 124,948 shares in the company, valued at approximately $13,605,587.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Mora sold 24,285 shares of the business’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 transaction of $2,928,528.15. Following the sale, the director now owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Institutional Trading of Enphase Energy

Several institutional investors have recently modified their holdings of the stock. Panagora Asset Management Inc. increased its holdings in shares of Enphase Energy by 42.5% in the 1st quarter. Panagora Asset Management Inc. now owns 4,030 shares of the semiconductor company’s stock valued at $813,000 after acquiring an additional 1,201 shares during the period. Raymond James Trust N.A. acquired a new position in shares of Enphase Energy in the 1st quarter valued at $249,000. Cibc World Market Inc. increased its holdings in shares of Enphase Energy by 219.1% in the 1st quarter. Cibc World Market Inc. now owns 5,320 shares of the semiconductor company’s stock valued at $1,073,000 after acquiring an additional 3,653 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Enphase Energy by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 398,666 shares of the semiconductor company’s stock valued at $80,436,000 after acquiring an additional 6,401 shares during the period. Finally, Blair William & Co. IL increased its stake in Enphase Energy by 8.7% in the 1st quarter. Blair William & Co. IL now owns 2,263 shares of the semiconductor company’s stock valued at $457,000 after buying an additional 182 shares during the period. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

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.