Enlight Renewable Energy (NASDAQ:ENLT) Issues Earnings Results

Enlight Renewable Energy (NASDAQ:ENLT) posted its quarterly earnings data on Wednesday. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05, Briefing.com reports. The firm had revenue of $90.40 million during the quarter, compared to analysts’ expectations of $79.31 million. Enlight Renewable Energy had a net margin of 27.74% and a return on equity of 5.05%. The firm’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the company posted $0.20 EPS. Enlight Renewable Energy updated its FY 2024 guidance to EPS.

Enlight Renewable Energy Stock Up 0.2 %

ENLT stock traded up $0.03 during midday trading on Thursday, reaching $18.12. The company had a trading volume of 11,720 shares, compared to its average volume of 44,181. The company has a 50 day moving average of $16.85 and a two-hundred day moving average of $16.90. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.63. Enlight Renewable Energy has a 1 year low of $12.11 and a 1 year high of $20.44. The company has a market capitalization of $2.09 billion, a P/E ratio of 32.11 and a beta of 1.68.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and set a $20.00 target price (up previously from $19.00) on shares of Enlight Renewable Energy in a research note on Thursday. JPMorgan Chase & Co. reissued a “neutral” rating and set a $16.00 price target (down from $19.00) on shares of Enlight Renewable Energy in a research report on Monday, April 8th. Finally, Barclays dropped their price target on Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd operates a renewable energy platform in Israel, Central-Eastern Europe, Western Europe, and the United States. The company develops, finances, constructs, owns, and operates utility-scale renewable energy projects. It develops wind energy and solar energy projects, as well as energy storage projects.