Enphase Energy Inc (ENPH) to Post FY2020 Earnings of $0.29 Per Share, B. Riley Forecasts

Enphase Energy Inc (NASDAQ:ENPH) – Equities researchers at B. Riley issued their FY2020 EPS estimates for Enphase Energy in a report issued on Wednesday, November 7th. B. Riley analyst C. Driscoll anticipates that the semiconductor company will post earnings per share of $0.29 for the year. B. Riley has a “Buy” rating and a $8.00 price target on the stock.

Several other equities research analysts have also weighed in on ENPH. HC Wainwright set a $9.00 target price on shares of Enphase Energy and gave the stock a “buy” rating in a report on Wednesday. BidaskClub raised shares of Enphase Energy from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Zacks Investment Research raised shares of Enphase Energy from a “hold” rating to a “buy” rating and set a $7.50 target price on the stock in a report on Wednesday, July 18th. Finally, ValuEngine raised shares of Enphase Energy from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Enphase Energy has an average rating of “Buy” and an average target price of $7.21.

ENPH opened at $5.56 on Friday. The company has a debt-to-equity ratio of 21.18, a quick ratio of 1.20 and a current ratio of 1.55. Enphase Energy has a twelve month low of $1.81 and a twelve month high of $7.60. The stock has a market capitalization of $599.69 million, a PE ratio of -10.30 and a beta of 0.48.

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 the Thomson Reuters’ consensus estimate of $0.04. The firm had revenue of $78.00 million during the quarter, compared to the consensus estimate of $79.55 million. During the same period in the previous year, the company posted ($0.01) EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year.

In related news, CEO Badrinarayanan Kothandaraman acquired 15,000 shares of the firm’s stock in a transaction on Monday, August 20th. The shares were purchased at an average price of $4.88 per share, with a total value of $73,200.00. Following the acquisition, the chief executive officer now directly owns 95,677 shares in the company, valued at $466,903.76. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Eric Branderiz acquired 19,880 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were bought at an average cost of $5.03 per share, for a total transaction of $99,996.40. Following the acquisition, the chief financial officer now owns 19,880 shares in the company, valued at $99,996.40. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 49,880 shares of company stock worth $258,546. Insiders own 13.52% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Emerald Mutual Fund Advisers Trust grew its holdings in Enphase Energy by 21.4% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 425,000 shares of the semiconductor company’s stock worth $2,061,000 after acquiring an additional 75,000 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its holdings in Enphase Energy by 11.6% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 3,519,549 shares of the semiconductor company’s stock worth $17,070,000 after acquiring an additional 366,033 shares during the last quarter. Alps Advisors Inc. bought a new stake in Enphase Energy during the 3rd quarter worth about $177,000. Creative Planning grew its holdings in Enphase Energy by 230.7% during the 3rd quarter. Creative Planning now owns 41,930 shares of the semiconductor company’s stock worth $203,000 after acquiring an additional 29,250 shares during the last quarter. Finally, United Services Automobile Association bought a new stake in Enphase Energy during the 2nd quarter worth about $267,000. 39.26% of the stock is currently owned by hedge funds and other institutional investors.

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

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