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Enphase Energy (ENPH) Outpaces Stock Market Gains: What You Should Know

Zacks Equity Research

Enphase Energy (ENPH) closed at $32.07 in the latest trading session, marking a +1.42% move from the prior day. This move outpaced the S&P 500's daily gain of 0.11%. Elsewhere, the Dow lost 0.09%, while the tech-heavy Nasdaq added 0.2%.

Heading into today, shares of the solar technology company had gained 17.02% over the past month, outpacing the Oils-Energy sector's loss of 2.03% and the S&P 500's gain of 3.25% in that time.

Wall Street will be looking for positivity from ENPH as it approaches its next earnings report date. On that day, ENPH is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 725%. Our most recent consensus estimate is calling for quarterly revenue of $204.76 million, up 121.86% from the year-ago period.

It is also important to note the recent changes to analyst estimates for ENPH. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.68% higher within the past month. ENPH is currently a Zacks Rank #1 (Strong Buy).

Investors should also note ENPH's current valuation metrics, including its Forward P/E ratio of 31.25. This valuation marks a premium compared to its industry's average Forward P/E of 21.26.

The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 213, which puts it in the bottom 17% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow ENPH in the coming trading sessions, be sure to utilize Zacks.com.


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