Cash $10,003. - $21,386 -2.2%. Took about half the gain back.
+$800 market didn't like earnings. Could go either way.
02/08/2023 12:43:58 Sold 1 VRTS @ 215.71 215.71
02/08/2023 12:43:58 Sold 43 VRTS @ 215.5 9,266.27
Now 775
02/08/2023 10:42:55 Bought 10 AZYO @ 4.71 -47.10
02/08/2023 10:42:55 Bought 10 AZYO @ 4.71 -47.10
02/08/2023 10:53:00 Bought 40 AZYO @ 4.71 -188.40
02/08/2023 10:53:00 Bought 40 AZYO @ 4.71 -188.40
Now 347 tight fisted today
02/08/2023 15:49:58 Bought 22 SPRY @ 7.36 -161.92
New
02/08/2023 13:48:16 Bought 200 NLSP @ 1.38 -276.00
The two standing closest to the exit door.
02/08/2023 15:26:45 Bought 100 GSAT @ 1.2699 -126.99
02/08/2023 15:27:29 Bought 100 RAVE @ 1.578 -157.80
Now 1413
02/08/2023 12:14:12 Bought 5 ENPH @ 218.51 -1,092.55
Not a recommendation, just a discussion. If you want a rec from me, buy some TIS. :)
Just want to point out to anyone thinking about buying ENPH, that the market looks to be
looking out six months.
First time ENPH had great earnings and sold off was the mention of possible parts shortages,
and shipping problems when everything was backed up.
This time, this is all it took: "Let's now cover the U.S. We expect our U.S. business to be
slightly down in Q1 compared to Q4, primarily driven by seasonality and the macroeconomic
environment. We are seeing that our distributor and installer partners are a little more cautious
in booking orders. We normally have a 6-month order visibility, and that has been somewhat
reduced as our partners watch their spending closely. On the sell-through of our microinverters,
while December was quite strong for us. We saw a more pronounced seasonality in January than
normal."
And this: "Moving to tax. Since we have utilized most of our net operating loss and research tax
credit carryforwards in 2022. We announced a significant U.S. cash taxpayer. We expect GAAP and
non-GAAP annualized effective tax rate for 2023 to be at 22% plus or minus 2% before any IRA
impact."
Being fully booked for next quarter doesn't seem to matter:
"As for Q1, we expect healthy growth compared to Q4, consistent with the overall growth in the European market."
"We increased non-debt diluted earnings per share by 92% to $4.62 per share in 2022 and generated
record free cash flow of $698.4 million more than double from 2021."
"Let's discuss our overall company outlook for Q1. We expect our Q1 revenue for the company to be
within the range of $700 million to $740 million. We are fully booked for Q1 right now."
I'll note last quarter they estimated revenue of $680 to $720 million. The street expected $707,
actual was $724.
CFRA, like most outfits uses non-gaap earnings in their calculations. Here at $218 the PE ratio
is 47. Their past earnings estimates have all been quite low.
"Our 12-month target price of $324 represents a 59x multiple applied to our 2023 EPS view of
$5.45. This is a premium to ENPH’s 5-year historical average of 52x, due to growth prospects."
I'll note ENPH earnings 3Q were $1.25. This quarter $1.51.
CFRA estimates for the next four quarters, $1.19, $1.22, $1.45, and $1.59.
Using their 2023 estimate of $5.45, at $218 the PE is 40. They estimate 2024 at $7.27.
There last call: fool.com |
