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

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

Enlight Renewable Energy Price Performance

ENLT stock traded up $0.20 during midday trading on Thursday, hitting $18.29. 10,747 shares of the stock were exchanged, compared to its average volume of 44,174. The stock’s 50-day moving average price is $16.85 and its 200-day moving average price is $16.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 31.74 and a beta of 1.68. Enlight Renewable Energy has a fifty-two week low of $12.11 and a fifty-two week high of $20.44.

Analyst Upgrades and Downgrades

ENLT has been the topic of a number of analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $16.00 price target (down from $19.00) on shares of Enlight Renewable Energy in a research note on Monday, April 8th. Barclays lowered their price target 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, Roth Mkm reiterated a “buy” rating and issued a $20.00 price objective (up previously from $19.00) on shares of Enlight Renewable Energy in a research note on Thursday.

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.