Enphase Energy (NASDAQ:ENPH) Issues Quarterly Earnings Results

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

Enphase Energy Stock Down 14.9 %

ENPH stock opened at $78.47 on Thursday. The stock has a market capitalization of $10.68 billion, a PE ratio of 40.87, a price-to-earnings-growth ratio of 5.57 and a beta of 1.72. The company has a fifty 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 one year low of $73.49 and a one year high of $141.63.

Wall Street Analysts Forecast Growth

ENPH has been the topic of several recent analyst reports. BMO Capital Markets dropped their target price on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating on the stock in a report on Monday, October 14th. Canaccord Genuity Group reiterated a “hold” rating and issued a $95.00 price objective (down previously from $140.00) on shares of Enphase Energy in a report on Wednesday. William Blair initiated coverage on Enphase Energy in a research note on Thursday, August 29th. They set a “market perform” rating for the company. JPMorgan Chase & Co. lowered their price target on Enphase Energy from $130.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Susquehanna cut shares of Enphase Energy from a “positive” rating to a “neutral” rating and cut their price objective for the stock from $147.00 to $104.00 in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus price target of $111.56.

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.