Enphase Energy Inc (ENPH) Expected to Announce Quarterly Sales of $121.45 Million

Analysts expect that Enphase Energy Inc (NASDAQ:ENPH) will post $121.45 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Enphase Energy’s earnings. The lowest sales estimate is $119.70 million and the highest is $123.78 million. Enphase Energy posted sales of $75.90 million in the same quarter last year, which suggests a positive year over year growth rate of 60%. The firm is scheduled to report its next quarterly earnings report on Tuesday, July 30th.

On average, analysts expect that Enphase Energy will report full year sales of $483.43 million for the current financial year, with estimates ranging from $474.40 million to $492.40 million. For the next fiscal year, analysts anticipate that the business will post sales of $542.29 million, with estimates ranging from $510.00 million to $572.30 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Enphase Energy.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $100.15 million for the quarter, compared to the consensus estimate of $92.26 million. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Enphase Energy’s quarterly revenue was up 43.1% compared to the same quarter last year.

Several analysts recently weighed in on the company. TheStreet upgraded Enphase Energy from a “c” rating to a “b-” rating in a research report on Tuesday. Zacks Investment Research upgraded Enphase Energy from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Friday, March 1st. Credit Suisse Group began coverage on Enphase Energy in a research report on Monday, March 25th. They issued a “neutral” rating and a $10.00 target price for the company. BidaskClub upgraded Enphase Energy from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 28th. Finally, ValuEngine upgraded Enphase Energy from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $11.36.

Shares of ENPH stock traded up $0.68 on Friday, hitting $15.36. 2,498,088 shares of the company’s stock were exchanged, compared to its average volume of 2,252,590. The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 4.63. Enphase Energy has a 12 month low of $3.70 and a 12 month high of $15.40. The company has a market cap of $1.67 billion, a P/E ratio of -128.00 and a beta of 1.45.

In related news, CEO Badrinarayanan Kothandaraman purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was bought at an average price of $8.74 per share, with a total value of $87,400.00. Following the completion of the purchase, the chief executive officer now owns 143,839 shares in the company, valued at approximately $1,257,152.86. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP David A. Ranhoff sold 63,516 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $14.62, for a total value of $928,603.92. Following the completion of the sale, the vice president now directly owns 790,517 shares of the company’s stock, valued at approximately $11,557,358.54. The disclosure for this sale can be found here. Insiders sold 226,561 shares of company stock valued at $2,407,313 over the last quarter. Corporate insiders own 12.46% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Park West Asset Management LLC increased its stake in shares of Enphase Energy by 34.6% in the first quarter. Park West Asset Management LLC now owns 6,041,392 shares of the semiconductor company’s stock valued at $55,762,000 after buying an additional 1,553,613 shares during the period. BlackRock Inc. increased its stake in shares of Enphase Energy by 1.0% in the first quarter. BlackRock Inc. now owns 5,747,529 shares of the semiconductor company’s stock valued at $53,050,000 after buying an additional 59,113 shares during the period. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Enphase Energy by 30.5% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 4,514,342 shares of the semiconductor company’s stock valued at $41,667,000 after buying an additional 1,053,833 shares during the period. Greenvale Capital LLP increased its stake in shares of Enphase Energy by 58.2% in the first quarter. Greenvale Capital LLP now owns 4,500,000 shares of the semiconductor company’s stock valued at $41,535,000 after buying an additional 1,655,741 shares during the period. Finally, Vanguard Group Inc increased its stake in shares of Enphase Energy by 13.1% in the third quarter. Vanguard Group Inc now owns 4,128,064 shares of the semiconductor company’s stock valued at $20,021,000 after buying an additional 479,564 shares during the period. 42.68% of the stock is owned by institutional investors.

Enphase Energy Company Profile

Enphase Energy, Inc, together with its subsidiaries, designs, develops, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. The company offers semiconductor-based microinverter that converts energy at the individual solar module level and combines with its proprietary networking and software technologies to provide energy monitoring and control services.

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