Analysts Expect Enphase Energy Inc (NASDAQ:ENPH) Will Announce Quarterly Sales of $176.60 Million
Analysts expect Enphase Energy Inc (NASDAQ:ENPH) to report sales of $176.60 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Enphase Energy’s earnings. The lowest sales estimate is $174.32 million and the highest is $179.96 million. Enphase Energy reported sales of $78.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 126.4%. The business is expected to announce its next earnings results on Tuesday, November 5th.
According to Zacks, analysts expect that Enphase Energy will report full year sales of $603.50 million for the current year, with estimates ranging from $593.35 million to $619.50 million. For the next fiscal year, analysts forecast that the firm will post sales of $755.43 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 research 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 the consensus estimate of $0.09 by $0.09. Enphase Energy had a net margin of 2.63% and a return on equity of 31.17%. The business had revenue of $134.09 million during the quarter, compared to the consensus estimate of $120.36 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The business’s revenue was up 76.7% on a year-over-year basis.
In other Enphase Energy news, Director Richard Mora sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $31.03, for a total transaction of $1,861,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeff Mcneil sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $25.08, for a total transaction of $188,100.00. Following the completion of the sale, the chief operating officer now directly owns 318,038 shares in the company, valued at $7,976,393.04. The disclosure for this sale can be found here. Insiders sold a total of 107,500 shares of company stock valued at $3,174,900 in the last quarter. Insiders own 12.46% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of ENPH. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Enphase Energy by 30.5% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 4,514,342 shares of the semiconductor company’s stock worth $41,667,000 after buying an additional 1,053,833 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in shares of Enphase Energy during the second quarter valued at $18,900,000. Renaissance Technologies LLC lifted its holdings in Enphase Energy by 387.7% in the second quarter. Renaissance Technologies LLC now owns 1,270,628 shares of the semiconductor company’s stock worth $23,164,000 after purchasing an additional 1,010,100 shares during the period. BlackRock Inc. lifted its holdings in Enphase Energy by 16.2% in the second quarter. BlackRock Inc. now owns 6,678,030 shares of the semiconductor company’s stock worth $121,742,000 after purchasing an additional 930,501 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Enphase Energy by 11.5% in the second quarter. Vanguard Group Inc. now owns 5,274,251 shares of the semiconductor company’s stock worth $96,149,000 after purchasing an additional 544,989 shares during the period. Institutional investors own 43.38% of the company’s stock.
Shares of NASDAQ:ENPH traded down $2.52 during trading on Monday, reaching $22.20. The company’s stock had a trading volume of 16,683,661 shares, compared to its average volume of 3,364,937. 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 $3.70 and a 12 month high of $35.42. The firm’s 50 day simple moving average is $28.80 and its two-hundred day simple moving average is $17.33. The stock has a market capitalization of $2.90 billion, a PE ratio of -185.00 and a beta of 0.88.
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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