Here's Why You Should Add Enphase Energy (ENPH) To Portfolio

Earnings estimates for Enphase Energy, Inc. (NASDAQ:ENPH) have been revised upward in the past 60 days, reflecting analysts’ optimism on the stock. The Zacks Consensus Estimate for 2019 and 2020 earnings has moved up 44.4% and 40.8% during the said period, respectively.

Let’s focus on the factors that make the stock an appropriate investment option at the moment.

Zacks Rank & Surprise History

Enphase Energy currently carries a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The company’s average four-quarter positive earnings surprise is 31.67%.

Price Movement

In the past 12 months, Enphase Energy’ shares have surged 186.2% compared with the industry’s rise of 25.2%.

Estimate Revision

Its earnings estimates for 2019 and 2020 indicate 420% and 32.21% increase on a year-over-year basis to 52 cents and 69 cents per share, respectively. Its revenue estimates for 2019 and 2020 indicate 53.01% and 14.67% increase year over year to $483.76 million and $554.74 million, respectively.

Strong Shipment

Enphase Energy — a global energy technology company — delivers smart, easy-to-use solutions that connect solar generation, storage and management. The company revolutionized solar with its microinverter technology and produces a fully-integrated solar plus storage solution. Since inception, the company has shipped more than 20 million microinverters globally.

Other Stocks to Consider

Some other top-ranked stocks from the same sector are JinkoSolar Holding Company Limited (NYSE:JKS) , Evergy Inc (NYSE:EVRG) and Earthstone Energy, Inc (NYSE:ESTE) . JinkoSolar sports a Zacks Rank of 1, while Evergy and Earthstone Energy carry a Zacks Rank of 2.

For 2019, earnings estimates for JinkoSolar have inched up 0.3% to $2.90 per share in the past 60 days. The company’s long-term earnings growth is pegged at 20%

Evergy’s earnings estimates for 2019 have moved up 0.3% to $2.98 per share in the past 60 days. The company’s long-term earnings growth is pegged at 6.60%.

For 2019, earnings estimate for Earthstone Energy have moved up 21% to 92 cents per share in the past 60 days. The company’s long-term earnings growth is pegged at 30%.

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