Enlight Renewable Energy (NASDAQ:ENLT) Posts Earnings Results, Beats Estimates By $0.05 EPS

Enlight Renewable Energy (NASDAQ:ENLT) announced its quarterly earnings results on Wednesday. The company reported $0.14 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $79.31 million. Enlight Renewable Energy had a net margin of 27.74% and a return on equity of 5.05%. The business’s revenue was up 27.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS. Enlight Renewable Energy updated its FY 2024 guidance to EPS.

Enlight Renewable Energy Price Performance

Shares of ENLT traded up $0.16 during trading hours on Thursday, reaching $18.25. 5,403 shares of the company traded hands, compared to its average volume of 44,110. The stock has a market capitalization of $2.11 billion, a PE ratio of 31.74 and a beta of 1.68. The stock has a fifty day simple moving average of $16.85 and a 200 day simple moving average of $16.90. Enlight Renewable Energy has a fifty-two week low of $12.11 and a fifty-two week high of $20.44. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.63.

Wall Street Analysts Forecast Growth

ENLT has been the subject of a number of research reports. Roth Mkm reiterated a “buy” rating and set a $20.00 price target (up from $19.00) on shares of Enlight Renewable Energy in a research report on Thursday. JPMorgan Chase & Co. reiterated a “neutral” rating and set 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 price target on Enlight Renewable Energy from $21.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th.

About Enlight Renewable Energy

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.