$85.04 Million in Sales Expected for Enphase Energy Inc (ENPH) This Quarter

Analysts expect Enphase Energy Inc (NASDAQ:ENPH) to post $85.04 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Enphase Energy’s earnings, with estimates ranging from $80.70 million to $87.40 million. Enphase Energy reported sales of $79.67 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.7%. The business is scheduled to report its next earnings results on Tuesday, February 26th.

On average, analysts expect that Enphase Energy will report full year sales of $308.92 million for the current financial year, with estimates ranging from $304.60 million to $311.30 million. For the next financial year, analysts expect that the firm will report sales of $388.96 million, with estimates ranging from $373.90 million to $412.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Enphase Energy.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, November 6th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The business had revenue of $78.00 million during the quarter, compared to analyst estimates of $79.55 million. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) earnings per share.

A number of research firms have commented on ENPH. B. Riley set a $8.00 target price on shares of Enphase Energy and gave the stock a “buy” rating in a report on Wednesday, November 7th. HC Wainwright set a $9.00 target price on shares of Enphase Energy and gave the company a “buy” rating in a report on Wednesday, November 7th. BidaskClub raised shares of Enphase Energy from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. ValuEngine upgraded shares of Enphase Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research lowered shares of Enphase Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Enphase Energy presently has an average rating of “Buy” and a consensus price target of $7.21.

Shares of NASDAQ:ENPH traded up $0.13 during trading on Friday, reaching $5.21. The stock had a trading volume of 639,822 shares, compared to its average volume of 2,502,233. The company has a current ratio of 1.55, a quick ratio of 1.42 and a debt-to-equity ratio of 21.18. Enphase Energy has a 52 week low of $1.83 and a 52 week high of $7.60. The stock has a market capitalization of $540.15 million, a P/E ratio of -9.65 and a beta of 0.48.

In other Enphase Energy news, CEO Badrinarayanan Kothandaraman purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 8th. The stock was bought at an average cost of $5.69 per share, for a total transaction of $85,350.00. Following the purchase, the chief executive officer now directly owns 129,440 shares in the company, valued at $736,513.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.52% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of Enphase Energy by 656.0% in the second quarter. BlackRock Inc. now owns 5,543,050 shares of the semiconductor company’s stock valued at $37,305,000 after purchasing an additional 4,809,849 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its holdings in Enphase Energy by 90.6% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,153,516 shares of the semiconductor company’s stock worth $21,223,000 after purchasing an additional 1,498,591 shares in the last quarter. Millennium Management LLC raised its holdings in Enphase Energy by 379.0% in the first quarter. Millennium Management LLC now owns 1,026,880 shares of the semiconductor company’s stock worth $4,693,000 after purchasing an additional 812,493 shares in the last quarter. Northern Trust Corp grew its stake in shares of Enphase Energy by 484.3% during the second quarter. Northern Trust Corp now owns 918,088 shares of the semiconductor company’s stock worth $6,179,000 after acquiring an additional 760,975 shares during the last quarter. Finally, Tenzing Global Management LLC grew its stake in shares of Enphase Energy by 25.0% during the third quarter. Tenzing Global Management LLC now owns 3,750,000 shares of the semiconductor company’s stock worth $18,188,000 after acquiring an additional 750,000 shares during the last quarter. Institutional investors own 35.83% of the company’s stock.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity at the individual solar module level.

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Earnings History and Estimates for Enphase Energy (NASDAQ:ENPH)

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