$75.91 Million in Sales Expected for Enphase Energy, Inc. (ENPH) This Quarter
Analysts predict that Enphase Energy, Inc. (NASDAQ:ENPH) will report sales of $75.91 million for the current quarter, according to Zacks. Four analysts have made estimates for Enphase Energy’s earnings, with the highest sales estimate coming in at $78.00 million and the lowest estimate coming in at $74.30 million. Enphase Energy reported sales of $90.60 million in the same quarter last year, which indicates a negative year-over-year growth rate of 16.2%. The company is scheduled to issue its next earnings report on Tuesday, February 27th.
On average, analysts expect that Enphase Energy will report full year sales of $75.91 million for the current fiscal year, with estimates ranging from $280.70 million to $284.50 million. For the next financial year, analysts anticipate that the company will post sales of $324.17 million per share, with estimates ranging from $309.80 million to $332.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Enphase Energy.
Enphase Energy (NASDAQ:ENPH) last posted its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. The business had revenue of $77.00 million during the quarter, compared to the consensus estimate of $77.13 million. Enphase Energy had a negative net margin of 18.66% and a negative return on equity of 1,232.10%. Enphase Energy’s quarterly revenue was down 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.28) EPS.
A number of analysts have recently issued reports on ENPH shares. Zacks Investment Research downgraded Enphase Energy from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Cowen and Company reiterated a “buy” rating and set a $2.00 price objective on shares of Enphase Energy in a research report on Sunday, September 24th. Needham & Company LLC restated a “hold” rating on shares of Enphase Energy in a research report on Tuesday, September 26th. Finally, ValuEngine upgraded Enphase Energy from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Enphase Energy has a consensus rating of “Hold” and a consensus price target of $1.56.
Shares of Enphase Energy (NASDAQ:ENPH) traded up $0.35 during midday trading on Friday, reaching $2.32. The company’s stock had a trading volume of 2,173,200 shares, compared to its average volume of 848,212. Enphase Energy has a 12-month low of $0.65 and a 12-month high of $2.36. The company has a debt-to-equity ratio of -4.75, a current ratio of 1.59 and a quick ratio of 1.30.
In related news, CEO Badrinarayanan Kothandaraman bought 40,677 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was bought at an average cost of $1.78 per share, with a total value of $72,405.06. Following the completion of the acquisition, the chief executive officer now owns 40,677 shares in the company, valued at approximately $72,405.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.92% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in ENPH. Tenzing Global Management LLC boosted its stake in Enphase Energy by 600.0% during the 3rd quarter. Tenzing Global Management LLC now owns 4,200,000 shares of the semiconductor company’s stock valued at $6,384,000 after purchasing an additional 3,600,000 shares during the period. Old West Investment Management LLC lifted its stake in Enphase Energy by 55.1% during the third quarter. Old West Investment Management LLC now owns 1,619,108 shares of the semiconductor company’s stock valued at $2,461,000 after purchasing an additional 575,453 shares during the last quarter. KBC Group NV lifted its stake in Enphase Energy by 101.3% during the third quarter. KBC Group NV now owns 180,137 shares of the semiconductor company’s stock valued at $274,000 after purchasing an additional 90,665 shares during the last quarter. K2 Principal Fund L.P. raised its holdings in shares of Enphase Energy by 14.9% during the third quarter. K2 Principal Fund L.P. now owns 506,570 shares of the semiconductor company’s stock valued at $770,000 after acquiring an additional 65,760 shares during the period. Finally, Wasatch Advisors Inc. raised its holdings in shares of Enphase Energy by 197.0% during the third quarter. Wasatch Advisors Inc. now owns 753,789 shares of the semiconductor company’s stock valued at $1,146,000 after acquiring an additional 500,000 shares during the period. 19.87% of the stock is currently owned by hedge funds and other institutional investors.
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Enphase Energy Company Profile
Enphase Energy, Inc is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity.
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