Stock Alert: Enphase Energy Inc. (ENPH) Shares Hit New 52-Week High

(RTTNews) - Shares of of Enphase Energy Inc. (ENPH) are rallying above 35% and touched a new 52-week high of $55.76 today. On Feb. 18, the company reported stellar Q4 results.

The company's Q4 net income was $116.7 million or $0.88 per share versus $709 thousand or $0.01 per share last year.

Non-GAAP net income amounted to $52.0 million or $0.39 per share, higher than the previous year's income of $5.09 million or $0.04 per share.

Analysts polled by Thomson Reuters expected earnings of $0.33 per share for the quarter. Analysts' estimates typically exclude certain special items.

Revenue for the quarter increased to $210.0 million from $92.3 million generated a year ago.

For the first quarter of fiscal 2020, the company sees revenue in a range of $200 million - $210 million, including $44.5 million of revenue for ITC safe harbor shipments. Eight Wall Street analysts have a consensus revenue estimate of $173.93 million for the quarter.