Q3 2024 EPS Estimates for Enphase Energy, Inc. (NASDAQ:ENPH) Cut by Roth Capital

Enphase Energy, Inc. (NASDAQ:ENPH) – Research analysts at Roth Capital dropped their Q3 2024 earnings per share (EPS) estimates for Enphase Energy in a report issued on Tuesday, October 8th. Roth Capital analyst P. Shen now anticipates that the semiconductor company will post earnings per share of $0.46 for the quarter, down from their previous forecast of $0.53. The consensus estimate for Enphase Energy’s current full-year earnings is $1.19 per share. Roth Capital also issued estimates for Enphase Energy’s Q4 2024 earnings at $0.57 EPS, FY2024 earnings at $1.12 EPS, Q1 2025 earnings at $0.64 EPS, Q2 2025 earnings at $0.75 EPS, Q3 2025 earnings at $0.88 EPS, Q4 2025 earnings at $0.95 EPS, FY2025 earnings at $3.23 EPS, Q1 2026 earnings at $0.88 EPS, Q2 2026 earnings at $0.96 EPS, Q3 2026 earnings at $1.05 EPS and FY2026 earnings at $4.05 EPS.

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

A number of other equities research analysts have also issued reports on ENPH. BMO Capital Markets reduced their target price on shares of Enphase Energy from $115.00 to $114.00 and set a “market perform” rating on the stock in a report on Wednesday, October 2nd. Royal Bank of Canada reduced their price objective on Enphase Energy from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Guggenheim lowered their target price on Enphase Energy from $93.00 to $90.00 and set a “sell” rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. upped their price target on Enphase Energy from $124.00 to $130.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley lifted their price objective on Enphase Energy from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $126.99.

Enphase Energy Trading Up 1.8 %

NASDAQ ENPH opened at $100.97 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. The firm has a market cap of $13.67 billion, a price-to-earnings ratio of 110.96, a PEG ratio of 5.57 and a beta of 1.72. The firm has a 50 day simple moving average of $112.35 and a 200-day simple moving average of $113.70. Enphase Energy has a one year low of $73.49 and a one year high of $141.63.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew 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 acquiring an additional 203 shares during the last quarter. Chilton Capital Management LLC grew its position in Enphase Energy by 2,733.3% during the 1st 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 last quarter. UMB Bank n.a. increased its stake in Enphase Energy by 784.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 259 shares during the period. Quest Partners LLC raised its holdings in shares of Enphase Energy by 11,525.0% in the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 461 shares during the last quarter. Finally, Mather Group LLC. raised its holdings in shares of Enphase Energy by 1,727.6% in the second quarter. Mather Group LLC. now owns 530 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 501 shares during the last quarter. 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.