FY2024 EPS Estimate for Enphase Energy Decreased by Analyst

Enphase Energy, Inc. (NASDAQ:ENPH) – Investment analysts at William Blair lowered their FY2024 earnings estimates for shares of Enphase Energy in a research note issued on Wednesday, October 23rd. William Blair analyst J. Dorsheimer now anticipates that the semiconductor company will post earnings of $0.87 per share for the year, down from their prior estimate of $1.10. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $1.18 per share. William Blair also issued estimates for Enphase Energy’s Q4 2024 earnings at $0.38 EPS, Q1 2025 earnings at $0.34 EPS, Q2 2025 earnings at $0.46 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.67 EPS and FY2025 earnings at $2.10 EPS.

A number of other equities research analysts have also recently issued reports on the stock. Morgan Stanley cut their price objective on shares of Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Northland Securities cut their price target on shares of Enphase Energy from $150.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Roth Mkm reduced their price objective on Enphase Energy from $130.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Finally, Evercore ISI reduced their price target on Enphase Energy from $133.00 to $125.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $111.26.

Enphase Energy Stock Up 1.0 %

Shares of ENPH opened at $84.68 on Monday. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. The stock has a 50 day simple moving average of $107.74 and a two-hundred day simple moving average of $111.41. The firm has a market cap of $11.52 billion, a P/E ratio of 44.10, a P/E/G ratio of 8.07 and a beta of 1.72.

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

Institutional Trading of Enphase Energy

A number of hedge funds and other institutional investors have recently modified their holdings of ENPH. Creative Financial Designs Inc. ADV boosted its stake in Enphase Energy by 19.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 771 shares of the semiconductor company’s stock worth $87,000 after acquiring an additional 125 shares in the last quarter. United Asset Strategies Inc. lifted its holdings in shares of Enphase Energy by 12.9% during the third quarter. United Asset Strategies Inc. now owns 7,331 shares of the semiconductor company’s stock valued at $829,000 after purchasing an additional 835 shares during the last quarter. AustralianSuper Pty Ltd boosted its position in shares of Enphase Energy by 70.8% in the 3rd quarter. AustralianSuper Pty Ltd now owns 7,319 shares of the semiconductor company’s stock worth $827,000 after purchasing an additional 3,034 shares in the last quarter. abrdn plc grew its stake in shares of Enphase Energy by 37.0% in the 3rd quarter. abrdn plc now owns 571,481 shares of the semiconductor company’s stock worth $64,749,000 after buying an additional 154,231 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its position in Enphase Energy by 6.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 15,729 shares of the semiconductor company’s stock valued at $1,777,000 after buying an additional 975 shares in the last quarter. 72.12% of the stock is owned by hedge funds and other institutional investors.

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.