Brokerages Expect Enphase Energy Inc (ENPH) to Announce $0.04 Earnings Per Share

Equities research analysts expect Enphase Energy Inc (NASDAQ:ENPH) to announce $0.04 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Enphase Energy’s earnings, with estimates ranging from $0.03 to $0.04. Enphase Energy reported earnings of ($0.01) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 500%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Enphase Energy will report full-year earnings of $0.10 per share for the current fiscal year, with EPS estimates ranging from $0.06 to $0.11. For the next financial year, analysts anticipate that the business will report earnings of $0.28 per share, with EPS estimates ranging from $0.17 to $0.34. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Enphase Energy.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, July 31st. The semiconductor company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The company had revenue of $75.90 million for the quarter, compared to analysts’ expectations of $76.76 million. During the same quarter last year, the company earned ($0.08) EPS. Enphase Energy’s revenue for the quarter was up 1.6% compared to the same quarter last year.

Several brokerages have weighed in on ENPH. B. Riley set a $8.00 price target on Enphase Energy and gave the stock a “buy” rating in a report on Wednesday. BidaskClub downgraded Enphase Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, September 8th. ValuEngine downgraded Enphase Energy from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Zacks Investment Research downgraded Enphase Energy from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, HC Wainwright restated a “buy” rating and set a $9.00 price target on shares of Enphase Energy in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $7.21.

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman acquired 15,000 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were acquired at an average price of $4.88 per share, for a total transaction of $73,200.00. Following the acquisition, the chief executive officer now owns 95,677 shares in the company, valued at approximately $466,903.76. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Eric Branderiz acquired 19,880 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was acquired at an average price 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 approximately $99,996.40. The disclosure for this purchase can be found here. Corporate insiders own 13.52% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ENPH. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Enphase Energy by 38.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,200 shares of the semiconductor company’s stock valued at $280,000 after acquiring an additional 17,100 shares during the last quarter. KBC Group NV increased its holdings in shares of Enphase Energy by 57.7% in the 1st quarter. KBC Group NV now owns 90,973 shares of the semiconductor company’s stock valued at $416,000 after acquiring an additional 33,279 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Enphase Energy by 13.5% in the 1st quarter. Northern Trust Corp now owns 157,113 shares of the semiconductor company’s stock valued at $718,000 after acquiring an additional 18,685 shares during the last quarter. Tibra Equities Europe Ltd purchased a new position in shares of Enphase Energy in the 1st quarter valued at about $800,000. Finally, Citadel Advisors LLC increased its holdings in shares of Enphase Energy by 344.3% in the 1st quarter. Citadel Advisors LLC now owns 93,167 shares of the semiconductor company’s stock valued at $426,000 after acquiring an additional 72,198 shares during the last quarter. Institutional investors and hedge funds own 39.17% of the company’s stock.

Shares of NASDAQ ENPH opened at $4.03 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.20 and a debt-to-equity ratio of -1.11. Enphase Energy has a 1-year low of $1.24 and a 1-year high of $7.60. The stock has a market cap of $427.10 million, a price-to-earnings ratio of -7.46 and a beta of 0.41.

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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