Enphase Energy sinks on Q3 results and forecast miss
BUZZ-Enphase Energy sinks on Q3 results and forecast miss ** Shares of solar inverter maker Enphase Energy ENPH.O down 18% at $24.45 premarket after co misses Q3 earnings estimates
** Co on track to touch its lowest levels since March 2020, if losses hold
** ENPH reports Q3 adj. EPS of 41 cents, missing analysts' estimate of 51 cents - data compiled by LSEG
** Co reports Q3 rev of $293.3 mln, missing est. of $304 mln
** Results were hurt by weaker-than-expected demand and lower gross margins due to product mix and reciprocal tariffs
** ENPH announced Q4 rev forecast to be in the range of $225 mln-$255 mln lower than analysts' estimate of $299.8 mln
** Stock trading at 14.24 times expected earnings per share over the next 12 months, well above the industry median of 3.67
** Of 33 brokerages covering the stock, 12 rate buy" or higher, 18 "hold" and 3 "sell" or lower; median PT is $38.30 — data compiled by LSEG
** As of last close ENPH down over 7% YTD
(Reporting by Jayasree Prabhu)