Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.05, Briefing.com reports. The business had revenue of $90.40 million during the quarter, compared to analyst estimates of $79.31 million. Enlight Renewable Energy had a net margin of 27.74% and a return on equity of 5.05%. The firm's revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.20 earnings per share. Enlight Renewable Energy updated its FY 2024 guidance to EPS.
Enlight Renewable Energy Stock Performance
Shares of ENLT traded up $0.03 during trading hours on Thursday, reaching $18.12. 11,720 shares of the company traded hands, compared to its average volume of 44,187. Enlight Renewable Energy has a 1-year low of $12.11 and a 1-year high of $20.44. The stock has a market cap of $2.09 billion, a P/E ratio of 32.11 and a beta of 1.68. The stock's fifty day moving average is $16.85 and its 200 day moving average is $16.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.14 and a current ratio of 1.14.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on ENLT. Roth Mkm reaffirmed a "buy" rating and set a $20.00 price objective (up previously from $19.00) on shares of Enlight Renewable Energy in a research report on Thursday. Barclays lowered their price target on Enlight Renewable Energy from $21.00 to $20.00 and set an "overweight" rating on the stock in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $16.00 price target (down previously from $19.00) on shares of Enlight Renewable Energy in a report on Monday, April 8th.
Read Our Latest Research Report on Enlight Renewable Energy
About Enlight Renewable Energy
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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.
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