Q2 2024 EPS Estimates for Enphase Energy, Inc. (NASDAQ:ENPH) Cut by B. Riley

Enphase Energy, Inc. (NASDAQ:ENPH) – Stock analysts at B. Riley dropped their Q2 2024 earnings per share estimates for Enphase Energy in a research report issued to clients and investors on Wednesday, April 24th. B. Riley analyst C. Souther now expects that the semiconductor company will post earnings per share of $0.25 for the quarter, down from their prior forecast of $0.40. B. Riley has a “Buy” rating and a $149.00 price target on the stock. The consensus estimate for Enphase Energy’s current full-year earnings is $1.56 per share. B. Riley also issued estimates for Enphase Energy’s Q4 2024 earnings at $0.79 EPS, FY2024 earnings at $1.66 EPS and FY2025 earnings at $3.56 EPS.

A number of other analysts have also commented on ENPH. StockNews.com lowered Enphase Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, February 7th. BMO Capital Markets reduced their target price on Enphase Energy from $118.00 to $113.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Royal Bank of Canada reduced their target price on Enphase Energy from $140.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. Truist Financial reduced their target price on Enphase Energy from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Enphase Energy from $141.00 to $128.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $137.41.

Enphase Energy Price Performance

Shares of ENPH stock opened at $108.76 on Monday. The stock has a 50-day moving average price of $117.46 and a 200 day moving average price of $111.56. The company has a quick ratio of 3.78, a current ratio of 4.16 and a debt-to-equity ratio of 1.30. The firm has a market cap of $14.80 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 4.10 and a beta of 1.47. Enphase Energy has a 12 month low of $73.49 and a 12 month high of $192.22.

Enphase Energy (NASDAQ:ENPH) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $302.57 million during the quarter, compared to analyst estimates of $327.06 million. Enphase Energy had a return on equity of 31.89% and a net margin of 15.10%.

Insider Buying and Selling

In related news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Richard Mora sold 24,285 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $120.59, for a total transaction of $2,928,528.15. Following the transaction, the director now directly owns 3,126 shares of the company’s stock, valued at approximately $376,964.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven J. Gomo sold 20,000 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $104.69, for a total value of $2,093,800.00. Following the completion of the transaction, the director now directly owns 118,360 shares in the company, valued at $12,391,108.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,285 shares of company stock valued at $6,148,228. 3.40% of the stock is owned by insiders.

Institutional Trading of Enphase Energy

A number of institutional investors have recently modified their holdings of the stock. Donoghue Forlines LLC lifted its position in shares of Enphase Energy by 4.8% during the 4th quarter. Donoghue Forlines LLC now owns 1,953 shares of the semiconductor company’s stock worth $258,000 after buying an additional 90 shares during the last quarter. Fermata Advisors LLC lifted its position in shares of Enphase Energy by 1.4% during the 1st quarter. Fermata Advisors LLC now owns 7,070 shares of the semiconductor company’s stock worth $855,000 after buying an additional 100 shares during the last quarter. Fulton Breakefield Broenniman LLC lifted its position in shares of Enphase Energy by 0.9% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 11,386 shares of the semiconductor company’s stock worth $1,505,000 after buying an additional 107 shares during the last quarter. VitalStone Financial LLC increased its holdings in Enphase Energy by 14.3% in the 4th quarter. VitalStone Financial LLC now owns 888 shares of the semiconductor company’s stock worth $117,000 after purchasing an additional 111 shares in the last quarter. Finally, Caprock Group LLC increased its holdings in Enphase Energy by 6.9% in the 1st quarter. Caprock Group LLC now owns 1,751 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 113 shares in the last quarter. 72.12% of the stock is currently owned by institutional investors.

About Enphase Energy

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.