Brokers Issue Forecasts for Enphase Energy, Inc.’s Q2 2024 Earnings (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Analysts at Capital One Financial reduced their Q2 2024 EPS estimates for Enphase Energy in a research note issued to investors on Wednesday, April 24th. Capital One Financial analyst W. Suki now anticipates that the semiconductor company will post earnings per share of $0.17 for the quarter, down from their previous forecast of $0.29. The consensus estimate for Enphase Energy’s current full-year earnings is $1.56 per share. Capital One Financial also issued estimates for Enphase Energy’s Q3 2024 earnings at $0.40 EPS, Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $1.27 EPS and FY2025 earnings at $2.99 EPS.

A number of other equities research analysts also recently commented on the stock. Canaccord Genuity Group assumed coverage on shares of Enphase Energy in a research report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of Enphase Energy from $141.00 to $128.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. DZ Bank started coverage on shares of Enphase Energy in a research note on Wednesday, April 17th. They set a “hold” rating and a $116.00 price target on the stock. BMO Capital Markets dropped their price target on shares of Enphase Energy from $118.00 to $113.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Finally, Susquehanna restated a “positive” rating and set a $140.00 target price on shares of Enphase Energy in a research note on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $137.41.

Enphase Energy Price Performance

Shares of ENPH opened at $108.76 on Monday. The company has a market capitalization of $14.80 billion, a P/E ratio of 57.29, a price-to-earnings-growth ratio of 4.10 and a beta of 1.47. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average of $117.46 and a 200 day moving average of $111.56. Enphase Energy has a twelve month low of $73.49 and a twelve month high of $192.22.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. The company had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a net margin of 15.10% and a return on equity of 31.89%.

Insider Buying and Selling at Enphase Energy

In other news, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total value of $544,450.00. Following the sale, the executive vice president now owns 124,948 shares in the company, valued at $13,605,587.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP David A. Ranhoff sold 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $108.89, for a total transaction of $544,450.00. Following the transaction, the executive vice president now directly owns 124,948 shares in the company, valued at $13,605,587.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares in the company, valued at $376,964.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,285 shares of company stock valued at $6,148,228. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Enphase Energy

Large investors have recently added to or reduced their stakes in the business. Bogart Wealth LLC purchased a new stake in Enphase Energy during the 4th quarter worth approximately $26,000. CVA Family Office LLC purchased a new stake in Enphase Energy during the 4th quarter worth approximately $31,000. YHB Investment Advisors Inc. purchased a new stake in Enphase Energy during the 1st quarter worth approximately $35,000. Parkside Financial Bank & Trust increased its stake in Enphase Energy by 131.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after buying an additional 176 shares during the period. Finally, Covestor Ltd grew its holdings in Enphase Energy by 61.6% during the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 133 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.