Brokerages expect Enphase Energy Inc (NASDAQ:ENPH) to announce sales of $67.30 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Enphase Energy’s earnings, with estimates ranging from $66.30 million to $68.40 million. Enphase Energy posted sales of $54.75 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.9%. The business is expected to announce its next earnings results on Tuesday, May 8th.
On average, analysts expect that Enphase Energy will report full year sales of $67.30 million for the current fiscal year, with estimates ranging from $316.60 million to $336.40 million. For the next year, analysts forecast that the company will report sales of $374.13 million per share, with estimates ranging from $341.20 million to $398.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Enphase Energy.
Several equities analysts recently weighed in on ENPH shares. BidaskClub raised shares of Enphase Energy from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research raised shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research report on Wednesday, February 28th. Roth Capital raised shares of Enphase Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $2.40 to $5.00 in a research report on Wednesday, February 28th. Oppenheimer reaffirmed a “buy” rating on shares of Enphase Energy in a research report on Monday, February 5th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $4.00 price target on shares of Enphase Energy in a research report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $3.05.
Several institutional investors have recently bought and sold shares of the business. Millennium Management LLC bought a new position in shares of Enphase Energy during the 4th quarter worth approximately $517,000. Two Sigma Securities LLC bought a new position in shares of Enphase Energy during the 4th quarter worth approximately $107,000. Goldman Sachs Group Inc. bought a new position in shares of Enphase Energy during the 4th quarter worth approximately $128,000. Divisar Capital Management LLC lifted its position in shares of Enphase Energy by 28.1% during the 4th quarter. Divisar Capital Management LLC now owns 1,680,106 shares of the semiconductor company’s stock worth $4,049,000 after buying an additional 368,907 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Enphase Energy during the 4th quarter worth approximately $302,000. 26.72% of the stock is currently owned by hedge funds and other institutional investors.
Enphase Energy (ENPH) opened at $3.87 on Monday. Enphase Energy has a 1 year low of $0.65 and a 1 year high of $3.98. The firm has a market cap of $331.01, a PE ratio of -6.91 and a beta of 0.78. The company has a debt-to-equity ratio of -4.75, a current ratio of 1.59 and a quick ratio of 1.30.
Enphase Energy Company Profile
Enphase Energy, Inc is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity.
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