Q2 2024 EPS Estimates for Enphase Energy, Inc. (NASDAQ:ENPH) Lowered by Analyst

Enphase Energy, Inc. (NASDAQ:ENPH) – Equities research analysts at Northland Capmk reduced their Q2 2024 earnings estimates for Enphase Energy in a research note issued on Wednesday, April 24th. Northland Capmk analyst G. Richard now expects that the semiconductor company will earn $0.14 per share for the quarter, down from their previous estimate of $0.29. The consensus estimate for Enphase Energy’s current full-year earnings is $1.56 per share. Northland Capmk also issued estimates for Enphase Energy’s Q3 2024 earnings at $0.41 EPS, FY2024 earnings at $1.13 EPS, Q1 2025 earnings at $0.54 EPS, Q2 2025 earnings at $0.71 EPS, Q3 2025 earnings at $0.99 EPS, Q4 2025 earnings at $1.08 EPS and FY2025 earnings at $3.31 EPS.

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

Other equities analysts have also issued research reports about the stock. Citigroup lowered shares of Enphase Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $126.00 to $121.00 in a research report on Friday, April 5th. StockNews.com lowered shares of Enphase Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. Craig Hallum dropped their price target on shares of Enphase Energy from $159.00 to $147.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. TD Cowen upped their price target on shares of Enphase Energy from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Truist Financial dropped their price target on shares of Enphase Energy from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy presently has an average rating of “Hold” and a consensus price target of $137.41.

Enphase Energy Stock Performance

Shares of ENPH opened at $113.85 on Monday. Enphase Energy has a 1 year low of $73.49 and a 1 year high of $192.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.78 and a current ratio of 4.16. The company’s 50 day simple moving average is $117.82 and its 200 day simple moving average is $111.63. The company has a market capitalization of $15.49 billion, a price-to-earnings ratio of 59.30, a PEG ratio of 4.10 and a beta of 1.47.

Insider Buying and Selling at Enphase Energy

In other Enphase Energy news, Director Richard Mora sold 24,285 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were 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 of the company’s stock, valued at approximately $376,964.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Richard Mora sold 24,285 shares of Enphase Energy stock in a transaction that occurred on Friday, February 9th. The shares were 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 of the company’s stock, valued at approximately $376,964.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Gomo sold 20,000 shares of Enphase Energy stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 118,360 shares in the company, valued at approximately $12,391,108.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,285 shares of company stock valued at $6,148,228. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of Enphase Energy by 21.3% in the first quarter. Principal Financial Group Inc. now owns 192,878 shares of the semiconductor company’s stock worth $23,334,000 after buying an additional 33,809 shares during the period. Benjamin Edwards Inc. acquired a new stake in shares of Enphase Energy during the first quarter worth approximately $395,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Enphase Energy by 47.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 4,281 shares of the semiconductor company’s stock worth $518,000 after purchasing an additional 1,375 shares during the period. Pinnacle Associates Ltd. boosted its holdings in shares of Enphase Energy by 25.8% during the first quarter. Pinnacle Associates Ltd. now owns 2,510 shares of the semiconductor company’s stock worth $304,000 after purchasing an additional 515 shares during the period. Finally, YHB Investment Advisors Inc. acquired a new stake in shares of Enphase Energy during the first quarter worth approximately $35,000. 72.12% of the stock is currently owned by institutional investors and hedge funds.

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.