Enphase Energy, Inc. (NASDAQ:ENPH) Expected to Earn Q3 2024 Earnings of $0.44 Per Share

Enphase Energy, Inc. (NASDAQ:ENPH) – Equities researchers at Zacks Research decreased their Q3 2024 earnings per share estimates for Enphase Energy in a report released on Tuesday, September 17th. Zacks Research analyst R. Department now anticipates that the semiconductor company will earn $0.44 per share for the quarter, down from their prior forecast of $0.46. The consensus estimate for Enphase Energy’s current full-year earnings is $1.19 per share. Zacks Research also issued estimates for Enphase Energy’s Q4 2024 earnings at $0.44 EPS, FY2024 earnings at $0.97 EPS, Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.76 EPS, Q4 2025 earnings at $1.22 EPS, FY2025 earnings at $2.63 EPS, Q1 2026 earnings at $0.53 EPS, Q2 2026 earnings at $0.71 EPS and FY2026 earnings at $3.39 EPS.

Other research analysts have also issued reports about the company. Piper Sandler upped their target price on Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. upped their target price on Enphase Energy from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Craig Hallum upped their target price on Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays cut their target price on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Glj Research initiated coverage on Enphase Energy in a research note on Tuesday, June 25th. They set a “sell” rating and a $45.82 price objective for the company. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus target price of $128.89.

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $114.90 on Friday. The business has a fifty day simple moving average of $113.08 and a 200 day simple moving average of $114.70. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $15.63 billion, a price-to-earnings ratio of 60.39, a PEG ratio of 5.84 and a beta of 1.72. Enphase Energy has a one year low of $73.49 and a one year high of $141.63.

Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The business had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. During the same period in the prior year, the company posted $1.16 earnings per share. The firm’s revenue was down 57.3% compared to the same quarter last year.

Institutional Investors Weigh In On Enphase Energy

A number of hedge funds have recently modified their holdings of ENPH. Manchester Capital Management LLC raised its position in shares of Enphase Energy by 1,068.4% during the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares during the period. Chilton Capital Management LLC raised its position in shares of Enphase Energy by 2,733.3% during the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares during the period. YHB Investment Advisors Inc. acquired a new stake in shares of Enphase Energy during the first quarter worth about $35,000. TFO Wealth Partners LLC raised its position in shares of Enphase Energy by 6,720.0% during the fourth quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 336 shares during the period. Finally, Quest Partners LLC raised its position in shares of Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter, which converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control.