Q2 2024 EPS Estimates for Enphase Energy, Inc. (NASDAQ:ENPH) Lifted by Roth Capital

Enphase Energy, Inc. (NASDAQ:ENPH) – Roth Capital boosted their Q2 2024 earnings per share (EPS) estimates for Enphase Energy in a report released on Wednesday, April 24th. Roth Capital analyst P. Shen now forecasts that the semiconductor company will earn $0.25 per share for the quarter, up from their previous forecast of $0.14. The consensus estimate for Enphase Energy’s current full-year earnings is $1.56 per share. Roth Capital also issued estimates for Enphase Energy’s Q3 2024 earnings at $0.55 EPS, Q4 2024 earnings at $0.82 EPS, FY2024 earnings at $1.61 EPS, Q1 2025 earnings at $0.90 EPS, Q2 2025 earnings at $1.05 EPS, Q3 2025 earnings at $1.25 EPS, Q4 2025 earnings at $1.51 EPS and FY2025 earnings at $4.72 EPS.

Other research analysts have also issued research reports about the company. Jefferies Financial Group lowered Enphase Energy from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $135.00 to $111.00 in a report on Wednesday, April 24th. Citigroup lowered Enphase Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Susquehanna reaffirmed a “positive” rating and set a $140.00 price objective on shares of Enphase Energy in a report on Friday, April 5th. Truist Financial lowered their target price on Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada lowered their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and an average price target of $137.41.

Enphase Energy Trading Down 4.5 %

Shares of ENPH stock opened at $108.76 on Monday. The business’s fifty day moving average price is $117.46 and its 200 day moving average price is $111.56. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $192.22. The firm has a market capitalization of $14.80 billion, a PE ratio of 57.29, a P/E/G ratio of 4.10 and a beta of 1.47. The company has a debt-to-equity ratio of 1.30, a current ratio of 4.16 and a quick ratio of 3.78.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%. The business had revenue of $302.57 million during the quarter, compared to analysts’ expectations of $327.06 million.

Insider Transactions at Enphase Energy

In other news, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the transaction, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the sale, the director now owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven J. Gomo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the sale, the director now directly owns 118,360 shares in the company, valued at approximately $12,391,108.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,285 shares of company stock worth $6,148,228. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Enphase Energy

Several hedge funds have recently made changes to their positions in ENPH. Bogart Wealth LLC bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $26,000. CVA Family Office LLC bought a new stake in Enphase Energy during the 4th quarter valued at $31,000. YHB Investment Advisors Inc. bought a new stake in Enphase Energy during the 1st quarter valued at $35,000. Parkside Financial Bank & Trust raised its stake in Enphase Energy by 131.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares in the last quarter. Finally, Covestor Ltd raised its stake in Enphase Energy by 61.6% during the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.

Enphase Energy Company Profile

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