Brokerages Expect Enphase Energy Inc (ENPH) Will Post Earnings of $0.06 Per Share

Analysts forecast that Enphase Energy Inc (NASDAQ:ENPH) will announce $0.06 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Enphase Energy’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.07. Enphase Energy posted earnings per share of ($0.01) in the same quarter last year, which would indicate a positive year-over-year growth rate of 700%. The firm is expected to announce its next earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that Enphase Energy will report full year earnings of $0.41 per share for the current fiscal year, with EPS estimates ranging from $0.35 to $0.47. For the next fiscal year, analysts anticipate that the business will report earnings of $0.59 per share, with EPS estimates ranging from $0.51 to $0.66. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Enphase Energy.

Enphase Energy (NASDAQ:ENPH) last issued its earnings results on Tuesday, February 26th. The semiconductor company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02). The company had revenue of $92.20 million for the quarter, compared to the consensus estimate of $85.40 million. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 EPS.

A number of brokerages recently commented on ENPH. BidaskClub cut shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, December 25th. Roth Capital set a $14.00 price target on shares of Enphase Energy and gave the stock a “buy” rating in a report on Thursday, March 21st. Credit Suisse Group started coverage on shares of Enphase Energy in a report on Monday, March 25th. They issued a “neutral” rating and a $10.00 price target on the stock. Cowen raised their price target on shares of Enphase Energy from $6.75 to $8.50 and gave the stock an “in-line” rating in a report on Thursday, February 21st. Finally, HC Wainwright set a $9.00 price objective on shares of Enphase Energy and gave the stock a “buy” rating in a research note on Tuesday, January 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $9.56.

In other news, CEO Badrinarayanan Kothandaraman bought 10,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was acquired at an average cost of $8.74 per share, with a total value of $87,400.00. Following the completion of the acquisition, the chief executive officer now owns 143,839 shares of the company’s stock, valued at $1,257,152.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard Mora sold 70,000 shares of Enphase Energy stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $9.09, for a total transaction of $636,300.00. Following the completion of the transaction, the director now directly owns 109,788 shares of the company’s stock, valued at $997,972.92. The disclosure for this sale can be found here. Insiders sold 163,045 shares of company stock valued at $1,478,709 over the last ninety days. Corporate insiders own 13.52% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Westside Investment Management Inc. raised its holdings in shares of Enphase Energy by 28.4% during the fourth quarter. Westside Investment Management Inc. now owns 8,986 shares of the semiconductor company’s stock valued at $43,000 after purchasing an additional 1,986 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Enphase Energy by 0.3% during the fourth quarter. Northern Trust Corp now owns 930,434 shares of the semiconductor company’s stock valued at $4,402,000 after purchasing an additional 2,423 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Enphase Energy by 24.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,605 shares of the semiconductor company’s stock valued at $60,000 after purchasing an additional 2,500 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Enphase Energy by 0.6% during the fourth quarter. Two Sigma Advisers LP now owns 418,709 shares of the semiconductor company’s stock valued at $1,980,000 after purchasing an additional 2,500 shares during the last quarter. Finally, CoreCommodity Management LLC raised its holdings in shares of Enphase Energy by 27.2% during the fourth quarter. CoreCommodity Management LLC now owns 24,381 shares of the semiconductor company’s stock valued at $115,000 after purchasing an additional 5,214 shares during the last quarter. 42.15% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:ENPH opened at $9.69 on Monday. The firm has a market capitalization of $1.01 billion, a P/E ratio of -80.75 and a beta of 1.45. Enphase Energy has a 52 week low of $3.70 and a 52 week high of $9.79. The company has a debt-to-equity ratio of 10.50, a quick ratio of 1.40 and a current ratio of 1.51.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.

Featured Story: What is the Dividend Aristocrat Index?

Get a free copy of the Zacks research report on Enphase Energy (ENPH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Enphase Energy (NASDAQ:ENPH)

Receive News & Ratings for Enphase Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enphase Energy and related companies with MarketBeat.com's FREE daily email newsletter.