Enphase Energy Inc (NASDAQ:ENPH) Expected to Announce Quarterly Sales of $176.47 Million

Analysts expect Enphase Energy Inc (NASDAQ:ENPH) to report $176.47 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Enphase Energy’s earnings, with the highest sales estimate coming in at $179.96 million and the lowest estimate coming in at $174.32 million. Enphase Energy posted sales of $78.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 126.2%. The company is expected to report its next quarterly earnings results on Tuesday, November 5th.

On average, analysts expect that Enphase Energy will report full year sales of $603.28 million for the current year, with estimates ranging from $593.35 million to $619.50 million. For the next financial year, analysts anticipate that the company will report sales of $758.16 million, with estimates ranging from $631.60 million to $803.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Enphase Energy.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.09. Enphase Energy had a net margin of 2.63% and a return on equity of 31.17%. The company had revenue of $134.09 million during the quarter, compared to analyst estimates of $120.36 million. During the same period last year, the business earned $0.02 earnings per share. Enphase Energy’s revenue was up 76.7% compared to the same quarter last year.

A number of equities analysts have recently commented on ENPH shares. HC Wainwright upgraded shares of Enphase Energy from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Wednesday, July 31st. B. Riley restated a “buy” rating and issued a $21.00 price objective on shares of Enphase Energy in a research report on Wednesday, June 12th. Deutsche Bank upgraded shares of Enphase Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from $100.00 to $120.00 in a research report on Wednesday, July 31st. Northland Securities restated a “buy” rating and issued a $40.00 price objective on shares of Enphase Energy in a research report on Wednesday, September 25th. Finally, Roth Capital lifted their target price on shares of Enphase Energy from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.95.

Shares of ENPH stock traded up $0.31 during trading hours on Thursday, reaching $24.53. The stock had a trading volume of 3,864,777 shares, compared to its average volume of 3,512,029. The stock’s fifty day simple moving average is $26.40 and its 200 day simple moving average is $19.45. The company has a current ratio of 2.44, a quick ratio of 2.30 and a debt-to-equity ratio of 0.85. Enphase Energy has a 12 month low of $4.06 and a 12 month high of $35.42. The firm has a market capitalization of $2.95 billion, a PE ratio of -204.42 and a beta of 0.85.

In other Enphase Energy news, Director Richard Mora sold 60,000 shares of Enphase Energy stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $31.03, for a total transaction of $1,861,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David A. Ranhoff sold 30,000 shares of Enphase Energy stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $29.25, for a total transaction of $877,500.00. Following the sale, the vice president now owns 767,297 shares of the company’s stock, valued at $22,443,437.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 107,500 shares of company stock valued at $3,174,900. 12.46% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in ENPH. Rhumbline Advisers raised its stake in shares of Enphase Energy by 0.8% during the first quarter. Rhumbline Advisers now owns 126,367 shares of the semiconductor company’s stock worth $1,166,000 after acquiring an additional 1,052 shares in the last quarter. Aperio Group LLC purchased a new position in shares of Enphase Energy during the second quarter worth approximately $26,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Enphase Energy by 607.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,830 shares of the semiconductor company’s stock worth $51,000 after acquiring an additional 2,430 shares in the last quarter. Gradient Investments LLC purchased a new position in shares of Enphase Energy during the third quarter worth approximately $60,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Enphase Energy during the second quarter worth approximately $54,000. Institutional investors and hedge funds own 43.36% of the company’s stock.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.

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

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