Enphase Energy (NASDAQ:ENPH) Issues Earnings Results

Enphase Energy (NASDAQ:ENPH) posted its earnings results on Tuesday. The semiconductor company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.12), Briefing.com reports. The business had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. Enphase Energy’s revenue for the quarter was down 30.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. Enphase Energy updated its Q4 2024 guidance to EPS.

Enphase Energy Trading Up 3.4 %

ENPH stock traded up $2.63 during trading on Thursday, hitting $81.10. 6,480,094 shares of the company traded hands, compared to its average volume of 3,820,991. The company has a 50-day moving average of $109.81 and a 200-day moving average of $112.23. The company has a debt-to-equity ratio of 1.36, a quick ratio of 3.90 and a current ratio of 4.23. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $141.63. The firm has a market capitalization of $11.03 billion, a PE ratio of 42.24, a P/E/G ratio of 5.57 and a beta of 1.72.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ENPH shares. Evercore ISI reduced their price objective on shares of Enphase Energy from $133.00 to $125.00 and set an “outperform” rating for the company in a research note on Wednesday. Raymond James reduced their price target on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday. Piper Sandler dropped their price objective on Enphase Energy from $105.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. William Blair began coverage on Enphase Energy in a research report on Thursday, August 29th. They set a “market perform” rating on the stock. Finally, Citigroup reduced their price objective on shares of Enphase Energy from $114.00 to $99.00 and set a “neutral” rating for the company in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $110.90.

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.