Q3 2024 EPS Estimates for Enphase Energy, Inc. (NASDAQ:ENPH) Cut by Analyst

Enphase Energy, Inc. (NASDAQ:ENPH) – Analysts at Roth Capital dropped their Q3 2024 earnings per share estimates for shares of Enphase Energy in a research note issued to investors on Tuesday, October 8th. Roth Capital analyst P. Shen now forecasts that the semiconductor company will post earnings per share of $0.46 for the quarter, down from their prior estimate of $0.53. The consensus estimate for Enphase Energy’s current full-year earnings is $1.19 per share. Roth Capital also issued estimates for Enphase Energy’s Q4 2024 earnings at $0.57 EPS, FY2024 earnings at $1.12 EPS, Q1 2025 earnings at $0.64 EPS, Q2 2025 earnings at $0.75 EPS, Q3 2025 earnings at $0.88 EPS, Q4 2025 earnings at $0.95 EPS, FY2025 earnings at $3.23 EPS, Q1 2026 earnings at $0.88 EPS, Q2 2026 earnings at $0.96 EPS, Q3 2026 earnings at $1.05 EPS and FY2026 earnings at $4.05 EPS.

Several other research firms also recently weighed in on ENPH. William Blair started coverage on shares of Enphase Energy in a report on Thursday, August 29th. They issued a “market perform” rating for the company. Canaccord Genuity Group decreased their price objective on shares of Enphase Energy from $150.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Morgan Stanley raised their price objective on shares of Enphase Energy from $100.00 to $102.00 and gave the company an “equal weight” rating in a research note on Wednesday. Jefferies Financial Group reaffirmed a “hold” rating and set a $115.00 target price (up previously from $111.00) on shares of Enphase Energy in a research note on Wednesday, September 4th. Finally, Canaccord Genuity Group cut their price objective on Enphase Energy from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $126.99.

Enphase Energy Trading Down 5.8 %

Shares of ENPH stock opened at $99.19 on Friday. 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 $13.50 billion, a PE ratio of 51.66, a price-to-earnings-growth ratio of 6.19 and a beta of 1.72. The stock has a fifty day moving average of $112.43 and a two-hundred day moving average of $113.77. 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 (NASDAQ:ENPH) last released its quarterly earnings results on Tuesday, July 23rd. The semiconductor company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The firm had revenue of $303.80 million for the quarter, compared to the consensus estimate of $309.73 million. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The firm’s revenue was down 57.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Manchester Capital Management LLC grew its holdings 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 last quarter. Chilton Capital Management LLC grew its holdings in Enphase Energy by 2,733.3% during the 1st quarter. Chilton Capital Management LLC now owns 255 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 246 shares during the last quarter. UMB Bank n.a. increased its position in Enphase Energy by 784.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 259 shares during the period. Quest Partners LLC raised its stake 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 valued at $46,000 after acquiring an additional 461 shares during the last quarter. Finally, Mather Group LLC. lifted its holdings in shares of Enphase Energy by 1,727.6% during the second quarter. Mather Group LLC. now owns 530 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 501 shares during the period. 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.