Enphase Energy (ENPH) to Release Quarterly Earnings on Tuesday

Enphase Energy (NASDAQ:ENPH) is scheduled to be announcing its earnings results after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Enphase Energy has set its Q1 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

Enphase Energy (NASDAQ:ENPH) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. Enphase Energy had a return on equity of 47.73% and a net margin of 19.16%. The firm had revenue of $302.57 million for the quarter, compared to the consensus estimate of $327.06 million. On average, analysts expect Enphase Energy to post $2 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Enphase Energy Trading Down 2.5 %

Shares of NASDAQ ENPH opened at $106.48 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 4.19 and a current ratio of 4.59. The business’s 50 day moving average price is $119.85 and its 200-day moving average price is $112.08. Enphase Energy has a fifty-two week low of $73.49 and a fifty-two week high of $228.36. The company has a market cap of $14.48 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 3.02 and a beta of 1.47.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Roth Mkm restated a “buy” rating and set a $140.00 price objective on shares of Enphase Energy in a report on Thursday. Royal Bank of Canada assumed coverage on Enphase Energy in a report on Wednesday, February 14th. They set an “outperform” rating and a $140.00 price objective on the stock. Truist Financial upgraded Enphase Energy from a “hold” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $145.00 in a report on Tuesday, January 23rd. DZ Bank assumed coverage on Enphase Energy in a report on Wednesday. They set a “hold” rating and a $116.00 price objective on the stock. Finally, Citigroup downgraded Enphase Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $149.88.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. In other Enphase Energy news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David A. Ranhoff sold 5,000 shares of Enphase Energy stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $108.89, for a total value of $544,450.00. Following the sale, the executive vice president now directly owns 124,948 shares of the company’s stock, valued at approximately $13,605,587.72. The disclosure for this sale can be found here. Insiders sold 34,285 shares of company stock valued at $4,054,428 in the last quarter. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Enphase Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FIL Ltd raised its stake in shares of Enphase Energy by 172.0% during the 4th quarter. FIL Ltd now owns 45,656 shares of the semiconductor company’s stock valued at $6,033,000 after buying an additional 28,869 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Enphase Energy by 24.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 495,538 shares of the semiconductor company’s stock valued at $65,481,000 after buying an additional 98,223 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of Enphase Energy by 43.6% during the 4th quarter. Harbour Investments Inc. now owns 514 shares of the semiconductor company’s stock valued at $68,000 after buying an additional 156 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Enphase Energy by 2.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 55,894 shares of the semiconductor company’s stock valued at $7,386,000 after buying an additional 1,573 shares during the last quarter. Finally, Gould Capital LLC raised its stake in shares of Enphase Energy by 6,857.0% during the 4th quarter. Gould Capital LLC now owns 6,957 shares of the semiconductor company’s stock valued at $919,000 after buying an additional 6,857 shares during the last quarter. Institutional investors and hedge funds own 72.12% of the company’s stock.

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.