Enphase Energy (NASDAQ:ENPH) Announces Earnings Results

Enphase Energy (NASDAQ:ENPH) issued its quarterly earnings results on Tuesday. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.15), Zacks reports. Enphase Energy had a return on equity of 10.56% and a net margin of 4.91%.

Enphase Energy Trading Up 3.7 %

NASDAQ ENPH traded up $2.34 during mid-day trading on Tuesday, reaching $66.25. 6,235,933 shares of the stock were exchanged, compared to its average volume of 3,616,227. The business’s fifty day simple moving average is $69.11 and its 200 day simple moving average is $89.39. The company has a debt-to-equity ratio of 1.29, a quick ratio of 3.88 and a current ratio of 4.16. The stock has a market capitalization of $8.95 billion, a PE ratio of 150.57, a PEG ratio of 8.22 and a beta of 1.68. Enphase Energy has a 1-year low of $58.33 and a 1-year high of $141.63.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ENPH. Barclays reduced their target price on shares of Enphase Energy from $114.00 to $91.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group cut shares of Enphase Energy from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $93.00 to $61.00 in a research report on Thursday, November 7th. Northland Securities cut their target price on Enphase Energy from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Citigroup boosted their target price on Enphase Energy from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Finally, BNP Paribas lowered shares of Enphase Energy from an “outperform” rating to a “neutral” rating and set a $88.00 price target on the stock. in a research note on Friday, November 8th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $93.22.

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.