Enphase Energy (ENPH) Gains As Market Dips: What You Should Know

In the latest trading session, Enphase Energy (ENPH) closed at $37.99, marking a +1.69% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.29%. Elsewhere, the Dow saw a downswing of 0.37%, while the tech-heavy Nasdaq depreciated by 0.34%. Shares of the solar technology company witnessed a loss of 1.58% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 2.23%, and the S&P 500's gain of 3.08%.The investment community will be closely monitoring the performance of Enphase Energy in its forthcoming earnings report. The company is predicted to post an EPS of $0.6, indicating a 7.69% decline compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $359.53 million, showing a 5.6% drop compared to the year-ago quarter. For the full year, the Zacks Consensus Estimates are projecting earnings of $2.59 per share and revenue of $1.45 billion, which would represent changes of +9.28% and +8.83%, respectively, from the prior year. Investors should also take note of any recent adjustments to analyst estimates for Enphase Energy. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Enphase Energy is currently sporting a Zacks Rank of #3 (Hold). Valuation is also important, so investors should note that Enphase Energy has a Forward P/E ratio of 14.45 right now. This denotes a discount relative to the industry average Forward P/E of 17.09. The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 41, positioning it in the top 17% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Enphase Energy, Inc. (ENPH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks