Enlight Renewable Energy (NASDAQ:ENLT) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

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

Enlight Renewable Energy Stock Up 0.2 %

Shares of ENLT traded up $0.03 during midday trading on Thursday, hitting $18.12. The company had a trading volume of 11,720 shares, compared to its average volume of 44,181. The company’s 50 day moving average price is $16.85 and its 200 day moving average price is $16.90. Enlight Renewable Energy has a 52 week low of $12.11 and a 52 week high of $20.44. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 32.11 and a beta of 1.68. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.63.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ENLT. Roth Mkm reissued a “buy” rating and set a $20.00 price objective (up from $19.00) on shares of Enlight Renewable Energy in a research note on Thursday. Barclays dropped their price objective on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $16.00 price objective (down previously from $19.00) on shares of Enlight Renewable Energy in a report on Monday, April 8th.

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.