Enphase Energy, Inc. (NASDAQ:ENPH) Forecasted to Post Q3 2024 Earnings of $0.44 Per Share

Enphase Energy, Inc. (NASDAQ:ENPH) – Analysts at Zacks Research decreased their Q3 2024 earnings per share estimates for shares of Enphase Energy in a research report issued on Tuesday, September 17th. Zacks Research analyst R. Department now anticipates that the semiconductor company will post earnings per share of $0.44 for the quarter, down from their previous forecast of $0.46. The consensus estimate for Enphase Energy’s current full-year earnings is $1.19 per share. Zacks Research also issued estimates for Enphase Energy’s Q4 2024 earnings at $0.44 EPS, FY2024 earnings at $0.97 EPS, Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.76 EPS, Q4 2025 earnings at $1.22 EPS, FY2025 earnings at $2.63 EPS, Q1 2026 earnings at $0.53 EPS, Q2 2026 earnings at $0.71 EPS and FY2026 earnings at $3.39 EPS.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The business had revenue of $303.80 million for the quarter, compared to analyst estimates of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. Enphase Energy’s revenue for the quarter was down 57.3% on a year-over-year basis. During the same period last year, the business posted $1.16 earnings per share.

Several other research analysts have also recently issued reports on ENPH. Morgan Stanley increased their price objective on shares of Enphase Energy from $98.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, August 21st. Canaccord Genuity Group decreased their price target on Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 price objective (up previously from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Piper Sandler raised their target price on Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Barclays dropped their price target on shares of Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $128.89.

Enphase Energy Stock Down 2.0 %

Enphase Energy stock opened at $117.36 on Friday. Enphase Energy has a 52 week low of $73.49 and a 52 week high of $141.63. The stock has a market cap of $15.97 billion, a price-to-earnings ratio of 61.13, a PEG ratio of 5.84 and a beta of 1.72. The company’s 50-day moving average price is $112.97 and its two-hundred day moving average price is $114.68. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36.

Institutional Investors Weigh In On Enphase Energy

Several hedge funds have recently bought and sold shares of ENPH. Vanguard Group Inc. lifted its position in shares of Enphase Energy by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock worth $2,066,846,000 after purchasing an additional 192,854 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Enphase Energy by 57.9% during the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after buying an additional 2,304,408 shares during the period. Swedbank AB purchased a new position in shares of Enphase Energy during the 1st quarter valued at $424,130,000. Northern Trust Corp increased its stake in shares of Enphase Energy by 0.3% in the fourth quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after acquiring an additional 3,940 shares during the last quarter. Finally, Electron Capital Partners LLC raised its holdings in shares of Enphase Energy by 1,021.4% during the second quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after acquiring an additional 1,078,154 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.