FY2024 EPS Estimates for Enphase Energy Reduced by Analyst

Enphase Energy, Inc. (NASDAQ:ENPH) – Equities researchers at Capital One Financial lowered their FY2024 earnings estimates for shares of Enphase Energy in a research note issued on Wednesday, October 23rd. Capital One Financial analyst W. Suki now anticipates that the semiconductor company will earn $0.87 per share for the year, down from their prior forecast of $1.27. The consensus estimate for Enphase Energy’s current full-year earnings is $1.18 per share. Capital One Financial also issued estimates for Enphase Energy’s Q4 2024 earnings at $0.38 EPS and FY2025 earnings at $2.33 EPS.

A number of other research analysts also recently commented on ENPH. TD Cowen cut their target price on shares of Enphase Energy from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Northland Securities cut their price objective on shares of Enphase Energy from $150.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. The Goldman Sachs Group dropped their target price on Enphase Energy from $170.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced their price target on Enphase Energy from $100.00 to $85.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 23rd. Finally, William Blair assumed coverage on Enphase Energy in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Enphase Energy currently has a consensus rating of “Hold” and a consensus target price of $111.26.

Enphase Energy Stock Performance

Shares of Enphase Energy stock opened at $83.07 on Monday. 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 stock’s fifty day moving average price is $107.06 and its 200-day moving average price is $111.17. The firm has a market cap of $11.30 billion, a P/E ratio of 43.27, a P/E/G ratio of 8.07 and a beta of 1.72. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $141.63.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, October 22nd. The semiconductor company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.12). Enphase Energy had a return on equity of 10.57% and a net margin of 4.91%. The firm had revenue of $380.90 million for the quarter, compared to analysts’ expectations of $392.51 million. During the same quarter in the previous year, the business earned $0.84 earnings per share. The company’s revenue for the quarter was down 30.9% compared to the same quarter last year.

Institutional Trading of Enphase Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENPH. Emerald Advisers LLC raised its position in shares of Enphase Energy by 252.2% in the third quarter. Emerald Advisers LLC now owns 6,770 shares of the semiconductor company’s stock worth $765,000 after acquiring an additional 4,848 shares during the period. Van ECK Associates Corp increased its stake in shares of Enphase Energy by 3.3% in the 3rd quarter. Van ECK Associates Corp now owns 87,532 shares of the semiconductor company’s stock valued at $9,893,000 after purchasing an additional 2,789 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Enphase Energy in the 3rd quarter worth about $1,273,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Enphase Energy during the 3rd quarter valued at approximately $112,000. Finally, Lmcg Investments LLC lifted its holdings in Enphase Energy by 25.6% during the third quarter. Lmcg Investments LLC now owns 81,117 shares of the semiconductor company’s stock valued at $9,168,000 after purchasing an additional 16,555 shares in 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.