Zacks Research Weighs in on Enphase Energy, Inc.’s Q3 2024 Earnings (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Zacks Research reduced their Q3 2024 earnings per share (EPS) estimates for shares of Enphase Energy in a note issued to investors on Tuesday, September 17th. Zacks Research analyst R. Department now anticipates that the semiconductor company will post earnings of $0.44 per share for the quarter, down from their previous forecast of $0.46. The consensus estimate for Enphase Energy’s current full-year earnings is $1.19 per share. Zacks Research also issued estimates for Enphase Energy’s Q4 2024 earnings at $0.44 EPS, FY2024 earnings at $0.97 EPS, Q1 2025 earnings at $0.26 EPS, Q2 2025 earnings at $0.40 EPS, Q3 2025 earnings at $0.76 EPS, Q4 2025 earnings at $1.22 EPS, FY2025 earnings at $2.63 EPS, Q1 2026 earnings at $0.53 EPS, Q2 2026 earnings at $0.71 EPS and FY2026 earnings at $3.39 EPS.

ENPH has been the subject of a number of other reports. Bank of America dropped their target price on shares of Enphase Energy from $71.00 to $70.00 and set an “underperform” rating for the company in a research note on Wednesday, July 17th. Barclays reduced their price objective on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Roth Mkm reiterated a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a research report on Wednesday, July 24th. Craig Hallum boosted their target price on Enphase Energy from $147.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Canaccord Genuity Group decreased their price target on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Enphase Energy presently has a consensus rating of “Hold” and an average price target of $128.89.

Enphase Energy Stock Down 2.1 %

Shares of NASDAQ ENPH opened at $114.90 on Friday. Enphase Energy has a 12-month low of $73.49 and a 12-month high of $141.63. The firm’s 50-day simple moving average is $112.99 and its 200 day simple moving average is $114.56. The company has a quick ratio of 3.90, a current ratio of 4.23 and a debt-to-equity ratio of 1.36. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 59.84, a price-to-earnings-growth ratio of 5.84 and a beta of 1.72.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings data on Tuesday, July 23rd. The semiconductor company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company’s revenue for the quarter was down 57.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 EPS.

Institutional Investors Weigh In On Enphase Energy

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Enphase Energy by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,641,335 shares of the semiconductor company’s stock valued at $2,066,846,000 after purchasing an additional 192,854 shares in the last quarter. Baillie Gifford & Co. raised its position in Enphase Energy by 57.9% in the 2nd quarter. Baillie Gifford & Co. now owns 6,285,059 shares of the semiconductor company’s stock valued at $626,683,000 after buying an additional 2,304,408 shares during the last quarter. Swedbank AB bought a new stake in Enphase Energy in the 1st quarter valued at approximately $424,130,000. Northern Trust Corp boosted its position in Enphase Energy by 0.3% during the 4th quarter. Northern Trust Corp now owns 1,364,567 shares of the semiconductor company’s stock worth $180,314,000 after acquiring an additional 3,940 shares during the last quarter. Finally, Electron Capital Partners LLC grew its stake in shares of Enphase Energy by 1,021.4% during the 2nd quarter. Electron Capital Partners LLC now owns 1,183,713 shares of the semiconductor company’s stock worth $118,028,000 after acquiring an additional 1,078,154 shares in the last quarter. 72.12% of the stock is owned by institutional investors.

About Enphase Energy

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.