Brokers Issue Forecasts for Enphase Energy, Inc.’s Q2 2024 Earnings (NASDAQ:ENPH)

Enphase Energy, Inc. (NASDAQ:ENPH) – Analysts at Capital One Financial decreased their Q2 2024 earnings per share estimates for Enphase Energy in a report issued on Wednesday, April 24th. Capital One Financial analyst W. Suki now forecasts that the semiconductor company will earn $0.17 per share for the quarter, down from their previous forecast of $0.29. The consensus estimate for Enphase Energy’s current full-year earnings is $1.56 per share. Capital One Financial also issued estimates for Enphase Energy’s Q3 2024 earnings at $0.40 EPS, Q4 2024 earnings at $0.70 EPS, FY2024 earnings at $1.27 EPS and FY2025 earnings at $2.99 EPS.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The business had revenue of $302.57 million during the quarter, compared to the consensus estimate of $327.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%.

Other equities research analysts also recently issued research reports about the company. Truist Financial dropped their price objective on Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Canaccord Genuity Group started coverage on Enphase Energy in a report on Tuesday, January 16th. They issued a “buy” rating and a $142.00 price objective for the company. TD Cowen upped their price objective on Enphase Energy from $140.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. BMO Capital Markets lowered their price target on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. Finally, Citigroup downgraded Enphase Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $126.00 to $121.00 in a report on Friday, April 5th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $137.41.

Enphase Energy Trading Down 4.5 %

NASDAQ ENPH opened at $108.76 on Monday. The stock has a 50-day simple moving average of $117.46 and a 200 day simple moving average of $111.56. The company has a market capitalization of $14.80 billion, a PE ratio of 57.29, a P/E/G ratio of 4.10 and a beta of 1.47. The company has a current ratio of 4.16, a quick ratio of 3.78 and a debt-to-equity ratio of 1.30. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $192.22.

Insider Transactions at Enphase Energy

In other Enphase Energy news, Director Steven J. Gomo sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $104.69, for a total transaction of $2,093,800.00. Following the transaction, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the transaction, the director now owns 118,360 shares in the company, valued at approximately $12,391,108.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,285 shares of company stock worth $6,148,228. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Enphase Energy

Several hedge funds and other institutional investors have recently modified their holdings of ENPH. Bogart Wealth LLC bought a new position in shares of Enphase Energy in the 4th quarter valued at $26,000. CVA Family Office LLC acquired a new stake in shares of Enphase Energy during the 4th quarter valued at $31,000. YHB Investment Advisors Inc. acquired a new stake in shares of Enphase Energy during the 1st quarter valued at $35,000. Parkside Financial Bank & Trust boosted its holdings in shares of Enphase Energy by 131.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 310 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 176 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Enphase Energy by 61.6% during the 3rd quarter. Covestor Ltd now owns 349 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 72.12% 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.