Enphase Energy Inc (NASDAQ:ENPH) – Research analysts at Oppenheimer raised their Q3 2019 earnings estimates for shares of Enphase Energy in a research report issued on Wednesday, July 31st, according to Zacks Investment Research. Oppenheimer analyst C. Rusch now anticipates that the semiconductor company will post earnings of $0.23 per share for the quarter, up from their previous forecast of $0.13. Oppenheimer has a “Outperform” rating and a $26.00 price objective on the stock. Oppenheimer also issued estimates for Enphase Energy’s Q4 2019 earnings at $0.25 EPS, FY2019 earnings at $0.60 EPS, FY2020 earnings at $0.97 EPS and FY2021 earnings at $1.20 EPS.
A number of other equities analysts have also recently issued reports on ENPH. B. Riley reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Enphase Energy in a research note on Wednesday, June 12th. ValuEngine upgraded shares of Enphase Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Enphase Energy from a “hold” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a report on Monday, July 8th. Roth Capital increased their target price on shares of Enphase Energy from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, HC Wainwright upgraded shares of Enphase Energy from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. Enphase Energy currently has a consensus rating of “Buy” and a consensus target price of $32.25.
ENPH stock traded up $1.37 during midday trading on Monday, reaching $33.40. The company’s stock had a trading volume of 5,168,632 shares, compared to its average volume of 3,052,710. Enphase Energy has a 52 week low of $3.70 and a 52 week high of $33.89. The stock has a market cap of $4.07 billion, a PE ratio of -278.33 and a beta of 1.01. The company has a quick ratio of 2.30, a current ratio of 2.44 and a debt-to-equity ratio of 0.85. The business’s 50-day simple moving average is $24.28 and its 200-day simple moving average is $14.77.
Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. Enphase Energy had a net margin of 2.63% and a return on equity of 31.17%. The firm had revenue of $134.09 million for the quarter, compared to analysts’ expectations of $120.36 million. During the same period last year, the firm earned $0.02 earnings per share. The business’s revenue for the quarter was up 76.7% on a year-over-year basis.
Institutional investors and hedge funds have recently bought and sold shares of the business. LPL Financial LLC acquired a new stake in Enphase Energy during the 4th quarter worth approximately $66,000. BlackRock Inc. lifted its position in Enphase Energy by 2.8% during the 4th quarter. BlackRock Inc. now owns 5,688,416 shares of the semiconductor company’s stock worth $26,907,000 after acquiring an additional 154,094 shares during the period. Bank of New York Mellon Corp lifted its position in Enphase Energy by 18.7% during the 4th quarter. Bank of New York Mellon Corp now owns 378,003 shares of the semiconductor company’s stock worth $1,788,000 after acquiring an additional 59,534 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Enphase Energy by 24.7% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 12,605 shares of the semiconductor company’s stock worth $60,000 after acquiring an additional 2,500 shares during the period. Finally, Northern Trust Corp lifted its position in Enphase Energy by 0.3% during the 4th quarter. Northern Trust Corp now owns 930,434 shares of the semiconductor company’s stock worth $4,402,000 after acquiring an additional 2,423 shares during the period. Institutional investors own 45.76% of the company’s stock.
Enphase Energy Company Profile
Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.