News

May 06, 2023

Q2 2023 Earnings Forecast for Enphase Energy, Inc. Issued By Zacks Research (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH - Get Rating) - Zacks Research upped their Q2

Enphase Energy, Inc. (NASDAQ:ENPH - Get Rating) - Zacks Research upped their Q2 2023 earnings estimates for shares of Enphase Energy in a research note issued on Tuesday, May 30th. Zacks Research analyst A. Dutta now anticipates that the semiconductor company will earn $0.84 per share for the quarter, up from their prior forecast of $0.78. The consensus estimate for Enphase Energy's current full-year earnings is $4.20 per share. Zacks Research also issued estimates for Enphase Energy's Q3 2023 earnings at $0.92 EPS, Q4 2023 earnings at $0.93 EPS, FY2023 earnings at $3.75 EPS, Q1 2024 earnings at $0.94 EPS, Q2 2024 earnings at $1.39 EPS, Q3 2024 earnings at $1.46 EPS, Q4 2024 earnings at $1.30 EPS, FY2024 earnings at $5.09 EPS, Q1 2025 earnings at $1.28 EPS and FY2025 earnings at $6.57 EPS.

A number of other equities analysts have also issued reports on the company. Citigroup cut their target price on Enphase Energy from $285.00 to $267.00 in a research report on Thursday, April 27th. Susquehanna raised shares of Enphase Energy from a "neutral" rating to a "positive" rating and set a $275.00 price target on the stock in a report on Wednesday, March 22nd. Credit Suisse Group decreased their price objective on shares of Enphase Energy from $295.00 to $260.00 in a report on Monday, May 1st. B. Riley upped their target price on shares of Enphase Energy from $242.00 to $247.00 in a research note on Tuesday, April 25th. Finally, Wells Fargo & Company decreased their price target on Enphase Energy from $281.00 to $230.00 in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy has an average rating of "Moderate Buy" and an average price target of $280.48.

Shares of Enphase Energy stock opened at $181.47 on Friday. Enphase Energy has a 1-year low of $152.15 and a 1-year high of $339.92. The company has a market capitalization of $24.86 billion, a PE ratio of 53.06, a P/E/G ratio of 1.59 and a beta of 1.50. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.45 and a quick ratio of 3.24. The business has a 50-day moving average of $183.72 and a 200-day moving average of $228.49.

In other Enphase Energy news, CFO Mandy Yang purchased 3,500 shares of the firm's stock in a transaction on Tuesday, May 2nd. The shares were purchased at an average price of $156.86 per share, for a total transaction of $549,010.00. Following the completion of the transaction, the chief financial officer now owns 99,043 shares in the company, valued at approximately $15,535,884.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP David A. Ranhoff sold 1,791 shares of the firm's stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $175.10, for a total value of $313,604.10. Following the completion of the transaction, the executive vice president now owns 82,644 shares of the company's stock, valued at approximately $14,470,964.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mandy Yang acquired 3,500 shares of the stock in a transaction on Tuesday, May 2nd. The shares were purchased at an average price of $156.86 per share, for a total transaction of $549,010.00. Following the completion of the transaction, the chief financial officer now owns 99,043 shares in the company, valued at approximately $15,535,884.98. The disclosure for this purchase can be found here. Corporate insiders own 4.80% of the company's stock.

A number of institutional investors and hedge funds have recently modified their holdings of ENPH. Y.D. More Investments Ltd purchased a new position in Enphase Energy during the 4th quarter valued at about $438,000. Signaturefd LLC increased its stake in Enphase Energy by 31.5% in the 3rd quarter. Signaturefd LLC now owns 1,569 shares of the semiconductor company's stock valued at $435,000 after buying an additional 376 shares during the period. Pinnacle Associates Ltd. lifted its position in Enphase Energy by 10.3% in the 4th quarter. Pinnacle Associates Ltd. now owns 1,038 shares of the semiconductor company's stock worth $332,000 after buying an additional 97 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Enphase Energy by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 454,111 shares of the semiconductor company's stock valued at $120,315,000 after buying an additional 10,507 shares during the period. Finally, PFS Investments Inc. purchased a new position in shares of Enphase Energy during the 3rd quarter valued at $1,161,000. Hedge funds and other institutional investors own 73.79% of the company's stock.

Enphase Energy, Inc is a global energy technology company, which engages in the design, development, manufacture, and sale of micro inverter systems for the solar photovoltaic industry. The firm's products include IQ 7 Microinverter Series, IQ Battery, IQ Envoy, IQ Microinverter Accessories, IQ Envoy Accessories and Enlighten & Apps.

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