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

Wall Street analysts expect Enphase Energy Inc (NASDAQ:ENPH) to post sales of $85.04 million for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Enphase Energy’s earnings. The highest sales estimate is $87.40 million and the lowest is $80.70 million. Enphase Energy posted sales of $79.67 million during the same quarter last year, which would suggest a positive year over year growth rate of 6.7%. The firm is expected to announce its next 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 fiscal year, with estimates ranging from $304.60 million to $311.30 million. For the next financial year, analysts expect that the company 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 an average based on a survey of research firms that cover Enphase Energy.

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

ENPH has been the topic of several research reports. B. Riley set a $8.00 price objective on Enphase Energy and gave the company a “buy” rating in a research report on Wednesday, September 12th. BidaskClub raised Enphase Energy from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 16th. HC Wainwright set a $9.00 price objective on Enphase Energy and gave the company a “buy” rating in a research report on Wednesday, November 7th. ValuEngine cut Enphase Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. Finally, Zacks Investment Research cut Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $7.21.

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

Several institutional investors and hedge funds have recently modified their holdings of ENPH. BlackRock Inc. boosted its position in shares of Enphase Energy by 656.0% in the 2nd 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. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Enphase Energy by 90.6% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 3,153,516 shares of the semiconductor company’s stock worth $21,223,000 after purchasing an additional 1,498,591 shares in the last quarter. Millennium Management LLC boosted its position in shares of Enphase Energy by 379.0% in the 1st quarter. Millennium Management LLC now owns 1,026,880 shares of the semiconductor company’s stock worth $4,693,000 after purchasing an additional 812,493 shares in the last quarter. Northern Trust Corp boosted its position in shares of Enphase Energy by 484.3% in the 2nd 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. Finally, Tenzing Global Management LLC boosted its position in shares of Enphase Energy by 25.0% in the 3rd 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. 39.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:ENPH opened at $5.54 on Friday. Enphase Energy has a 1 year low of $1.83 and a 1 year high of $7.60. The stock has a market cap of $577.36 million, a P/E ratio of -10.26 and a beta of 0.48. The company has a current ratio of 1.55, a quick ratio of 1.42 and a debt-to-equity ratio of 21.18.

Enphase Energy Company Profile

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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