Q2 2024 Earnings Forecast for Enlight Renewable Energy Ltd Issued By Roth Capital (NASDAQ:ENLT)

Enlight Renewable Energy Ltd (NASDAQ:ENLT - Free Report) - Roth Capital reduced their Q2 2024 earnings per share estimates for shares of Enlight Renewable Energy in a report released on Wednesday, May 8th. Roth Capital analyst J. Clare now anticipates that the company will earn $0.05 per share for the quarter, down from their previous estimate of $0.07. The consensus estimate for Enlight Renewable Energy's current full-year earnings is $0.44 per share. Roth Capital also issued estimates for Enlight Renewable Energy's Q3 2024 earnings at $0.04 EPS and FY2025 earnings at $0.26 EPS.

A number of other analysts have also recently weighed in on the stock. Roth Mkm reissued a "buy" rating and issued a $20.00 price target (up previously from $19.00) on shares of Enlight Renewable Energy in a research note on Thursday. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $16.00 target price (down from $19.00) on shares of Enlight Renewable Energy in a research report on Monday, April 8th. Finally, Barclays dropped their target price on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 10th.

Enlight Renewable Energy Stock Performance

Shares of ENLT traded up $0.12 during trading hours on Friday, reaching $18.24. 3,925 shares of the company's stock traded hands, compared to its average volume of 43,744. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 32.00 and a beta of 1.68. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.14 and a quick ratio of 1.14. Enlight Renewable Energy has a twelve month low of $12.11 and a twelve month high of $20.44. The business's fifty day simple moving average is $16.89 and its two-hundred day simple moving average is $16.95.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.05. Enlight Renewable Energy had a return on equity of 5.05% and a net margin of 27.74%. The firm had revenue of $90.40 million for the quarter, compared to analysts' expectations of $79.31 million. During the same period last year, the business posted $0.20 earnings per share. The firm's revenue for the quarter was up 27.3% on a year-over-year basis.

Hedge Funds Weigh In On Enlight Renewable Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Enlight Renewable Energy by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,001,391 shares of the company's stock worth $67,704,000 after buying an additional 29,249 shares in the last quarter. Swiss National Bank raised its position in Enlight Renewable Energy by 1.3% in the 1st quarter. Swiss National Bank now owns 236,337 shares of the company's stock valued at $3,954,000 after purchasing an additional 3,045 shares during the last quarter. Capstone Investment Advisors LLC boosted its stake in Enlight Renewable Energy by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company's stock worth $369,000 after purchasing an additional 1,800 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Enlight Renewable Energy by 3.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,542,307 shares of the company's stock worth $43,016,000 after purchasing an additional 83,400 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Enlight Renewable Energy by 277.6% in the first quarter. Assenagon Asset Management S.A. now owns 580,673 shares of the company's stock worth $9,752,000 after purchasing an additional 426,881 shares in the last quarter. 38.89% of the stock is owned by institutional investors.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd operates a renewable energy platform in Israel, Central-Eastern Europe, Western Europe, and the United States. The company develops, finances, constructs, owns, and operates utility-scale renewable energy projects. It develops wind energy and solar energy projects, as well as energy storage projects.