Q1 2024 EPS Estimates for Enphase Energy, Inc. Lowered by Analyst (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Analysts at B. Riley cut their Q1 2024 earnings per share (EPS) estimates for Enphase Energy in a research note issued on Monday, April 22nd. B. Riley analyst C. Souther now forecasts that the semiconductor company will earn $0.18 per share for the quarter, down from their previous forecast of $0.40. B. Riley currently has a “Buy” rating and a $149.00 target price on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $2.01 per share. B. Riley also issued estimates for Enphase Energy’s Q2 2024 earnings at $0.40 EPS, Q3 2024 earnings at $0.77 EPS, Q4 2024 earnings at $0.89 EPS, FY2024 earnings at $2.26 EPS and FY2025 earnings at $4.38 EPS.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. Enphase Energy had a return on equity of 31.34% and a net margin of 15.10%. The business had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million.

A number of other equities analysts have also commented on ENPH. Guggenheim lowered Enphase Energy from a “neutral” rating to a “sell” rating and set a $92.00 price target for the company. in a report on Wednesday. StockNews.com lowered Enphase Energy from a “hold” rating to a “sell” rating in a report on Wednesday, February 7th. Piper Sandler reaffirmed a “neutral” rating and issued a $111.00 price target (down from $113.00) on shares of Enphase Energy in a report on Wednesday. Roth Mkm reaffirmed a “buy” rating and issued a $140.00 price target on shares of Enphase Energy in a report on Wednesday. Finally, Susquehanna reaffirmed a “positive” rating and issued a $140.00 price target on shares of Enphase Energy in a report on Friday, April 5th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $141.00.

Enphase Energy Price Performance

Shares of NASDAQ ENPH opened at $107.17 on Thursday. The stock has a fifty day simple moving average of $119.28 and a two-hundred day simple moving average of $111.97. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $228.36. The firm has a market cap of $14.57 billion, a price-to-earnings ratio of 55.82, a price-to-earnings-growth ratio of 3.24 and a beta of 1.47. The company has a current ratio of 4.59, a quick ratio of 4.19 and a debt-to-equity ratio of 1.32.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ENPH. Bogart Wealth LLC bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $26,000. CVA Family Office LLC bought a new stake in shares of Enphase Energy in the 4th quarter worth approximately $31,000. Parkside Financial Bank & Trust boosted its position in shares of Enphase Energy by 131.3% in the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 176 shares in the last quarter. Covestor Ltd boosted its position in shares of Enphase Energy by 61.6% in the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 133 shares in the last quarter. Finally, Addison Advisors LLC boosted its position in shares of Enphase Energy by 1,447.6% in the 4th quarter. Addison Advisors LLC now owns 325 shares of the semiconductor company’s stock worth $43,000 after purchasing an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 72.12% of the company’s stock.

Insider Activity at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Enphase Energy news, EVP David A. Ranhoff sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $116.29, for a total transaction of $581,450.00. Following the transaction, the executive vice president now owns 119,948 shares in the company, valued at approximately $13,948,752.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Mora sold 24,285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total value of $2,928,528.15. Following the transaction, the director now owns 3,126 shares in the company, valued at approximately $376,964.34. The disclosure for this sale can be found here. Insiders have sold a total of 34,285 shares of company stock worth $4,054,428 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Enphase Energy Company Profile

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.