Enphase Energy (NASDAQ:ENPH) Releases Earnings Results, Misses Estimates By $0.12 EPS

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

Enphase Energy Stock Performance

Shares of NASDAQ ENPH opened at $92.23 on Wednesday. The stock has a market cap of $12.55 billion, a price-to-earnings ratio of 48.04, a P/E/G ratio of 5.57 and a beta of 1.72. The company has a current ratio of 4.23, a quick ratio of 3.90 and a debt-to-equity ratio of 1.36. Enphase Energy has a 1-year low of $73.49 and a 1-year high of $141.63. The stock’s 50-day moving average is $110.47 and its 200 day moving average is $112.47.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ENPH. Morgan Stanley lowered their target price on Enphase Energy from $102.00 to $93.00 and set an “equal weight” rating on the stock in a research report on Wednesday. William Blair initiated coverage on Enphase Energy in a report on Thursday, August 29th. They set a “market perform” rating for the company. Bank of America upped their price objective on Enphase Energy from $82.00 to $84.00 and gave the company an “underperform” rating in a research note on Thursday, October 10th. BMO Capital Markets reduced their price objective on Enphase Energy from $114.00 to $104.00 and set a “market perform” rating for the company in a research note on Monday, October 14th. Finally, Roth Mkm restated a “buy” rating and issued a $140.00 price objective on shares of Enphase Energy in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Enphase Energy has a consensus rating of “Hold” and a consensus price target of $118.32.

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.