Enlight Renewable Energy (NASDAQ:ENLT) Posts Earnings Results

Enlight Renewable Energy (NASDAQ:ENLT) announced its quarterly earnings data on Wednesday. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05, Briefing.com reports. The firm had revenue of $90.40 million for the quarter, compared to analyst estimates of $79.31 million. Enlight Renewable Energy had a net margin of 27.74% and a return on equity of 5.05%. The business’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.20 earnings per share. Enlight Renewable Energy updated its FY 2024 guidance to EPS.

Enlight Renewable Energy Stock Performance

Shares of NASDAQ ENLT opened at $18.12 on Friday. Enlight Renewable Energy has a 1 year low of $12.11 and a 1 year high of $20.44. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.14 and a current ratio of 1.14. The company’s fifty day moving average price is $16.87 and its 200 day moving average price is $16.91. The company has a market capitalization of $2.09 billion, a PE ratio of 31.79 and a beta of 1.68.

Analyst Upgrades and Downgrades

ENLT has been the topic of a number of research reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $16.00 price objective (down from $19.00) on shares of Enlight Renewable Energy in a report on Monday, April 8th. Barclays decreased their price objective on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Finally, Roth Mkm reissued a “buy” rating and set a $20.00 target price (up previously from $19.00) on shares of Enlight Renewable Energy in a report on Thursday.

About Enlight Renewable Energy

Enlight Renewable Energy Ltd operates a renewable energy platform in Israel, Central-Eastern Europe, Western Europe, and the United States. The company develops, finances, constructs, owns, and operates utility-scale renewable energy projects. It develops wind energy and solar energy projects, as well as energy storage projects.