Brokerages expect Canadian Solar Inc. (NASDAQ:CSIQ) to announce earnings per share of ($0.44) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Canadian Solar’s earnings. The highest EPS estimate is ($0.32) and the lowest is ($0.62). Canadian Solar reported earnings of $0.72 per share in the same quarter last year, which would suggest a negative year over year growth rate of 161.1%. The firm is scheduled to report its next quarterly earnings results on Wednesday, May 15th.
On average, analysts expect that Canadian Solar will report full year earnings of $2.40 per share for the current year, with EPS estimates ranging from $2.11 to $2.87. For the next financial year, analysts anticipate that the business will post earnings of $2.77 per share, with EPS estimates ranging from $2.21 to $3.30. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that cover Canadian Solar.
Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, March 21st. The solar energy provider reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.74. The company had revenue of $901.00 million during the quarter, compared to analyst estimates of $872.02 million. Canadian Solar had a net margin of 6.33% and a return on equity of 18.40%. The firm’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS.
CSIQ has been the subject of several analyst reports. Cascend Securities raised shares of Canadian Solar from a “hold” rating to a “buy” rating and increased their target price for the stock from $21.00 to $27.00 in a report on Wednesday, February 20th. Zacks Investment Research raised shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, April 10th. BidaskClub lowered shares of Canadian Solar from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 27th. ValuEngine lowered shares of Canadian Solar from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 26th. Finally, Standpoint Research lowered shares of Canadian Solar from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $21.50.
Hedge funds have recently bought and sold shares of the business. Morgan Stanley boosted its stake in Canadian Solar by 8.8% in the 3rd quarter. Morgan Stanley now owns 1,494,629 shares of the solar energy provider’s stock worth $21,673,000 after purchasing an additional 120,938 shares during the period. Man Group plc bought a new position in Canadian Solar in the 3rd quarter worth approximately $1,011,000. Vanguard Group Inc boosted its stake in Canadian Solar by 8.8% in the 3rd quarter. Vanguard Group Inc now owns 790,900 shares of the solar energy provider’s stock worth $11,468,000 after purchasing an additional 63,923 shares during the period. Eqis Capital Management Inc. bought a new position in Canadian Solar in the 4th quarter worth approximately $609,000. Finally, We Are One Seven LLC bought a new position in Canadian Solar in the 4th quarter worth approximately $120,000. Institutional investors and hedge funds own 39.80% of the company’s stock.
Canadian Solar stock traded down $0.13 during midday trading on Friday, hitting $19.01. The stock had a trading volume of 612,095 shares, compared to its average volume of 945,915. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 5.80, a P/E/G ratio of 0.25 and a beta of 2.44. Canadian Solar has a 52-week low of $11.37 and a 52-week high of $25.89. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31.
Canadian Solar Company Profile
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.
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