Enphase Energy (NASDAQ:ENPH) Releases Quarterly Earnings Results, Misses Expectations By $0.13 EPS

by · The Cerbat Gem

Enphase Energy (NASDAQ:ENPH – Get Free Report) released its earnings results on Tuesday. The semiconductor company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.13), Briefing.com reports. Enphase Energy had a return on equity of 17.30% and a net margin of 9.12%. The business had revenue of $380.90 million during the quarter, compared to analysts’ expectations of $392.51 million. During the same quarter in the previous year, the business earned $0.84 EPS. The business’s revenue for the quarter was down 30.9% on a year-over-year basis. Enphase Energy updated its Q4 2024 guidance to EPS.

Enphase Energy Price Performance

NASDAQ ENPH traded up $1.81 during trading hours on Tuesday, hitting $92.23. 6,544,330 shares of the company’s stock traded hands, compared to its average volume of 3,726,985. The company has a market capitalization of $12.55 billion, a PE ratio of 47.36, a PEG ratio of 5.57 and a beta of 1.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 4.23 and a quick ratio of 3.90. Enphase Energy has a 52-week low of $73.49 and a 52-week high of $141.63. The firm’s 50-day moving average is $110.87 and its 200-day moving average is $112.61.

Analyst Upgrades and Downgrades

ENPH has been the subject of several research reports. Piper Sandler lowered their price objective on shares of Enphase Energy from $115.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Truist Financial lowered their price target on Enphase Energy from $130.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Jefferies Financial Group restated a “hold” rating and set a $115.00 price objective (up from $111.00) on shares of Enphase Energy in a report on Wednesday, September 4th. Craig Hallum lifted their target price on Enphase Energy from $147.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup dropped their price target on Enphase Energy from $114.00 to $99.00 and set a “neutral” rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Enphase Energy currently has a consensus rating of “Hold” and a consensus target price of $121.51.

Check Out Our Latest Report on Enphase Energy

Enphase Energy Company Profile

(Get Free Report)

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.

Further Reading