Analysts Anticipate Enphase Energy Inc (ENPH) Will Announce Quarterly Sales of $85.04 Million

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Wall Street brokerages forecast that Enphase Energy Inc (NASDAQ:ENPH) will announce $85.04 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Enphase Energy’s earnings, with the lowest sales estimate coming in at $80.70 million and the highest estimate coming in at $87.40 million. Enphase Energy posted sales of $79.67 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.7%. The company is scheduled to issue its next quarterly earnings report on Tuesday, February 26th.

On average, analysts expect that Enphase Energy will report full year sales of $308.92 million for the current year, with estimates ranging from $304.60 million to $311.30 million. For the next year, analysts forecast that the business will post sales of $388.96 million, with estimates ranging from $373.90 million to $412.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Enphase Energy.

Enphase Energy (NASDAQ:ENPH) last posted its earnings results on Tuesday, November 6th. The semiconductor company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $78.00 million for the quarter, compared to analysts’ expectations of $79.55 million. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS.

A number of analysts have weighed in on the company. HC Wainwright set a $9.00 target price on Enphase Energy and gave the stock a “buy” rating in a report on Tuesday. BidaskClub upgraded Enphase Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 19th. TheStreet upgraded Enphase Energy from a “d+” rating to a “c-” rating in a report on Wednesday, November 28th. Finally, B. Riley set a $8.00 price target on Enphase Energy and gave the stock a “buy” rating in a research report on Wednesday, November 7th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $7.21.

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 15,000 shares of Enphase Energy stock in a transaction dated Thursday, November 8th. The shares were acquired at an average cost of $5.69 per share, with a total value of $85,350.00. Following the completion of the transaction, the chief executive officer now owns 129,440 shares in the company, valued at approximately $736,513.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 13.52% of the company’s stock.

Several hedge funds have recently modified their holdings of ENPH. BlackRock Inc. increased its position in shares of Enphase Energy by 656.0% during the second quarter. BlackRock Inc. now owns 5,543,050 shares of the semiconductor company’s stock worth $37,305,000 after purchasing an additional 4,809,849 shares in the last quarter. Northern Trust Corp increased its position in shares of Enphase Energy by 484.3% during the second quarter. Northern Trust Corp now owns 918,088 shares of the semiconductor company’s stock worth $6,179,000 after purchasing an additional 760,975 shares in the last quarter. Tenzing Global Management LLC increased its position in shares of Enphase Energy by 25.0% during the third quarter. Tenzing Global Management LLC now owns 3,750,000 shares of the semiconductor company’s stock worth $18,188,000 after purchasing an additional 750,000 shares in the last quarter. Vanguard Group Inc increased its position in shares of Enphase Energy by 13.1% in the 3rd quarter. Vanguard Group Inc now owns 4,128,064 shares of the semiconductor company’s stock valued at $20,021,000 after acquiring an additional 479,564 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Enphase Energy by 13.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,128,064 shares of the semiconductor company’s stock valued at $20,021,000 after acquiring an additional 479,564 shares during the period. 38.94% of the stock is currently owned by institutional investors and hedge funds.

Enphase Energy stock traded up $0.07 during mid-day trading on Thursday, reaching $7.23. 3,741,788 shares of the company were exchanged, compared to its average volume of 1,779,497. The company has a quick ratio of 1.42, a current ratio of 1.55 and a debt-to-equity ratio of 21.18. The firm has a market cap of $754.89 million, a P/E ratio of -13.39 and a beta of 0.77. Enphase Energy has a 12-month low of $2.00 and a 12-month high of $7.60.

About Enphase Energy

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.

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