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Enlight Renewable Energy Ltd is projected to post second-quarter 2024 earnings of $0.05 per share (NASDAQ:ENLT)

Enlight Renewable Energy Ltd (NASDAQ:ENLT – Free Report) – In a research note issued on Wednesday, May 8, Roth Capital analysts lowered their Q2 2024 EPS estimates for Enlight Renewable Energy. Roth Capital analyst J. Clare now expects the company to report earnings of $0.05 per share for the quarter, up from a prior forecast of $0.07. The consensus estimate for Enlight Renewable Energy’s current full-year earnings is $0.44 per share. Roth Capital also released estimates for Enlight Renewable Energy’s Q3 2024 earnings of $0.04 EPS and FY2025 earnings of $0.26 EPS.

Other analysts have also recently issued reports on the stock. In a research report on Thursday, Roth Mkm maintained a “buy” rating and set a $20.00 price target (up from $19.00) on shares of Enlight Renewable Energy. JPMorgan Chase & Co. affirmed a “neutral” rating and set a $16.00 price target on shares of Enlight Renewable Energy (up from $19.00) in a research note issued on Monday, April 8. Finally, Barclays lowered their price target on shares of Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th.

See our latest stock analysis on ENLT

Enlight Renewable Energy Stock Increases 0.6%

Enlight Renewable Energy shares were up $0.11 on Friday, hitting $18.23. The company’s stock traded volume was 1,251 shares while its average trading volume was 43,714. Enlight Renewable Energy has a 12-month low of $12.11 and a 12-month high of $20.44. The company’s market capitalization is $2.11 billion, its price-to-earnings ratio is 31.79 and its beta is 1.68. The company’s 50 day simple moving average is $16.87 and its 200 day simple moving average is $16.91. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.14 and a current ratio of 1.14.

Enlight Renewable Energy ( NASDAQ:ENLT – Get Free Report ) last released its earnings results on Wednesday, May 8th. The company reported $0.14 earnings per share (EPS) for the quarter, $0.05 above analyst consensus estimates of $0.09. The company’s revenue for the quarter was $90.40 million, compared to analyst estimates of $79.31 million. Enlight Renewable Energy had a return on equity of 5.05% and a net margin of 27.74%. The company’s revenues increased by 27.3% year-on-year. During the same quarter last year, the company saw an EPS of $0.20.

Institutional Investors Speak Out on Enlight Renewable Energy

A number of institutional investors and hedge funds have recently bought and sold ENLT stock. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Enlight Renewable Energy during the 4th quarter valued at $217,000. Capstone Investment Advisors LLC increased its holdings in Enlight Renewable Energy by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the company’s stock valued at $369,000 after acquiring an additional 1,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Enlight Renewable Energy by 12.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,192 shares of the company’s stock valued at $761,000 after acquiring an additional 5,215 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. purchased a new position in shares of Enlight Renewable Energy during the 3rd quarter worth approximately $3,120,000. Finally, YD More Investments Ltd acquired a new stake in Enlight Renewable Energy during the third quarter worth $3,226,000. 38.89% of the shares are held by hedge funds and other institutional investors.

Enlighten your renewable energy company profile

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

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