Enphase Energy, Inc. (NASDAQ:ENPH) expects earnings of $0.44 per share in the third quarter of 2024

Enphase Energy, Inc. (NASDAQ:ENPH – Free Report) – Equity researchers at Zacks Research lowered their earnings per share estimates for Enphase Energy for Q3 2024 in a report issued on Tuesday, September 17. Zacks Research analyst R. Department now expects the semiconductor company to earn $0.44 per share for the quarter, down from their previous forecast of $0.46. The consensus estimate for Enphase Energy’s current full year earnings is $1.19 per share. Zacks Research also issued estimates for Enphase Energy’s fourth-quarter 2024 earnings of $0.44 EPS, FY2024 earnings of $0.97 EPS, Q1 2025 earnings of $0.26 EPS, Q2 2025 earnings of $0.40 EPS, Q3 2025 earnings of $0.76 EPS, Q4 2025 earnings of $1.22 EPS, FY2025 earnings of $2.63 EPS, Q1 2026 earnings of $0.53 EPS, Q2 2026 earnings of $0.71 EPS and FY2026 earnings of $3.39 EPS.

Other research analysts have also issued reports on the company. Piper Sandler increased their price target on Enphase Energy from $111.00 to $120.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. increased their price target on Enphase Energy from $124.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Craig Hallum increased their price target on Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays decreased their price target on Enphase Energy from $131.00 to $129.00 and set an “overweight” rating on the company in a research note on Thursday, July 25th. Finally, Glj Research initiated coverage on Enphase Energy in a research note on Tuesday, June 25th. They set a “sell” rating and a $45.82 price target for the company. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, and eighteen have given a buy rating to the company. According to MarketBeat.com, Enphase Energy has a consensus rating of “Hold” and a consensus price target of $128.89.

View our latest research report on Enphase Energy

Enphase Energy Stock Return

Shares of NASDAQ ENPH opened at $114.90 on Friday. The company has a 50-day simple moving average of $113.08 and a 200-day simple moving average of $114.70. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 60.39, a PEG ratio of 5.84 and a beta of 1.72. Enphase Energy has a low of $73.49 and a high of $141.63.

Enphase Energy (NASDAQ:ENPH – Get Free Report) last released its quarterly earnings results on Tuesday, July 23. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). Enphase Energy had a net margin of 9.12% and a return on equity of 17.30%. The company had revenue of $303.80 million during the quarter, compared to the consensus estimate of $309.73 million. During the same period in the prior year, the company reported $1.16 EPS. The company’s revenue was down 57.3% compared to the year-ago quarter.

Institutional investors weigh Enphase Energy

A number of hedge funds have recently modified their holdings of ENPH. Manchester Capital Management LLC increased its position in shares of Enphase Energy by 1,068.4% during the first quarter. Manchester Capital Management LLC now owns 222 shares of the semiconductor company’s stock worth $27,000 after purchasing an additional 203 shares during the period. Chilton Capital Management LLC increased its position in shares of Enphase Energy by 2,733.3% during the first quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 246 shares during the period. YHB Investment Advisors Inc. acquired a new stake in shares of Enphase Energy during the first quarter worth approximately $35,000. TFO Wealth Partners LLC increased its position in shares of Enphase Energy by 6,720.0% during the fourth quarter. TFO Wealth Partners LLC now owns 341 shares of the semiconductor company’s stock worth $45,000 after purchasing an additional 336 shares during the period. Finally, Quest Partners LLC increased its position in shares of Enphase Energy by 11,525.0% during the second quarter. Quest Partners LLC now owns 465 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 461 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

About Enphase Energy

(Get free report)

Enphase Energy, Inc., together with its subsidiaries, designs, develops, manufactures, and markets home energy solutions for the photovoltaic solar industry in the United States and internationally. The company offers semiconductor-based microinverters, which convert energy at the individual solar module level and combine them with proprietary grid and software technologies to provide energy monitoring and control.

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