Enlight Renewable Energy (NASDAQ:ENLT) Releases Earnings Results, Beats Expectations By $0.09 EPS

Key Points

• Enlight reported Q results with EPS of $0.16, beating estimates by $0.09, while revenue missed at $156.49 million versus $170.66 million expected.
• Shares traded down 0.6% to $88.27 after the report; the stock has a market cap of $10.47 billion, a PE of 86.32, and a 12-month high of $93.00.
• Analyst coverage is mixed (three Buys, two Holds, two Sells) and the consensus rating is "Hold" with an average price target of $51.67, well below the current share price.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) announced its earnings results on Tuesday. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.09, FiscalAI reports. The company had revenue of $156.49 million for the quarter, compared to analyst estimates of $170.66 million. Enlight Renewable Energy had a return on equity of 7.35% and a net margin of 22.69%.

Enlight Renewable Energy Stock Down 0.6%

Shares of Enlight Renewable Energy stock traded down $0.53 on Tuesday, hitting $88.27. 64,437 shares of the company traded hands, compared to its average volume of 145,308. Enlight Renewable Energy has a 12-month low of $16.59 and a 12-month high of $93.00. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.03. The company has a market cap of $10.47 billion, a PE ratio of 86.32, a PEG ratio of 11.50 and a beta of 1.51. The company has a 50-day moving average price of $75.20 and a 200 day moving average price of $56.05.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ENLT. BNP Paribas Financial Markets increased its position in Enlight Renewable Energy by 256.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company's stock worth $28,000 after purchasing an additional 881 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Enlight Renewable Energy by 6.0% in the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company's stock valued at $258,000 after buying an additional 641 shares in the last quarter. Mackenzie Financial Corp bought a new stake in shares of Enlight Renewable Energy in the 4th quarter valued at approximately $277,000. AQR Capital Management LLC acquired a new position in Enlight Renewable Energy in the fourth quarter worth approximately $283,000. Finally, Mariner LLC increased its holdings in Enlight Renewable Energy by 4.1% in the third quarter. Mariner LLC now owns 10,070 shares of the company's stock worth $314,000 after buying an additional 396 shares during the last quarter. Hedge funds and other institutional investors own 38.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ENLT. Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the stock a "hold" rating in a research report on Thursday, April 9th. Barclays reaffirmed an "overweight" rating on shares of Enlight Renewable Energy in a research report on Wednesday, February 18th. UBS Group boosted their target price on Enlight Renewable Energy to $65.00 and gave the stock a "buy" rating in a research report on Friday, January 16th. JPMorgan Chase & Co. upped their price target on Enlight Renewable Energy from $45.00 to $57.00 and gave the company an "underweight" rating in a research report on Thursday, April 16th. Finally, Mizuho set a $37.00 price objective on Enlight Renewable Energy in a research note on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $51.67.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. NASDAQ: ENLT is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company's portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.