Zacks: Brokerages Anticipate Enphase Energy (ENPH) to Post $0.01 Earnings Per Share

Equities analysts expect that Enphase Energy (NASDAQ:ENPH) will post earnings per share of $0.01 for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Enphase Energy’s earnings. The highest EPS estimate is $0.02 and the lowest is ($0.01). Enphase Energy reported earnings of ($0.08) per share in the same quarter last year, which would indicate a positive year over year growth rate of 112.5%. The firm is scheduled to report its next earnings results on Tuesday, August 14th.

According to Zacks, analysts expect that Enphase Energy will report full year earnings of $0.10 per share for the current year, with EPS estimates ranging from $0.07 to $0.12. For the next year, analysts anticipate that the company will post earnings of $0.24 per share, with EPS estimates ranging from $0.14 to $0.32. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Enphase Energy.

Enphase Energy (NASDAQ:ENPH) last released its quarterly earnings data on Tuesday, May 1st. The semiconductor company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The business had revenue of $70.00 million during the quarter, compared to analysts’ expectations of $67.06 million. During the same quarter last year, the business posted ($0.18) EPS. The company’s quarterly revenue was up 27.9% compared to the same quarter last year.

Several equities research analysts have weighed in on the company. HC Wainwright assumed coverage on Enphase Energy in a report on Wednesday. They issued a “buy” rating and a $8.00 price objective for the company. ValuEngine upgraded Enphase Energy from a “sell” rating to a “hold” rating in a report on Friday, May 11th. Cowen increased their price objective on Enphase Energy from $3.50 to $5.50 and gave the stock an “outperform” rating in a report on Tuesday, April 24th. B. Riley started coverage on Enphase Energy in a research note on Monday, March 26th. They issued a “buy” rating and a $6.00 target price for the company. Finally, Roth Capital set a $6.00 target price on Enphase Energy and gave the company a “buy” rating in a research note on Thursday, March 22nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $5.25.

Enphase Energy opened at $5.53 on Friday, according to MarketBeat. Enphase Energy has a fifty-two week low of $5.33 and a fifty-two week high of $6.03. The company has a debt-to-equity ratio of -1.17, a current ratio of 1.43 and a quick ratio of 1.25. The company has a market capitalization of $542.35 million, a price-to-earnings ratio of -10.24 and a beta of 0.37.

In other news, Director John Howard Weber sold 77,551 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $3.88, for a total value of $300,897.88. Following the completion of the transaction, the director now owns 27,763 shares in the company, valued at approximately $107,720.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Badrinarayanan Kothandaraman bought 40,000 shares of the stock in a transaction dated Thursday, March 1st. The stock was purchased at an average price of $3.32 per share, with a total value of $132,800.00. Following the purchase, the chief executive officer now owns 80,677 shares in the company, valued at $267,847.64. The disclosure for this purchase can be found here. Company insiders own 13.52% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new position in Enphase Energy during the fourth quarter valued at $107,000. Wade G W & Inc. purchased a new position in Enphase Energy during the fourth quarter valued at $108,000. Goldman Sachs Group Inc. purchased a new position in Enphase Energy during the fourth quarter valued at $128,000. Verition Fund Management LLC purchased a new position in Enphase Energy during the first quarter valued at $131,000. Finally, Monashee Investment Management LLC purchased a new position in Enphase Energy during the fourth quarter valued at $133,000. Institutional investors own 24.77% of the company’s stock.

About Enphase Energy

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells microinverter systems for residential and commercial markets in the United States and internationally. The company's semiconductor-based microinverter system converts direct current electricity to alternating current (AC) electricity at the individual solar module level.

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