Brokerages expect Canadian Solar Inc. (NASDAQ:CSIQ) to report earnings of $1.06 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Canadian Solar’s earnings, with the lowest EPS estimate coming in at $0.92 and the highest estimate coming in at $1.18. Canadian Solar reported earnings per share of $0.24 during the same quarter last year, which indicates a positive year-over-year growth rate of 341.7%. The company is scheduled to announce its next earnings report on Tuesday, March 20th.
On average, analysts expect that Canadian Solar will report full year earnings of $1.53 per share for the current year, with EPS estimates ranging from $1.41 to $1.62. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.84 per share, with EPS estimates ranging from $1.26 to $2.70. Zacks’ EPS averages are an average based on a survey of analysts that cover Canadian Solar.
Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Thursday, November 9th. The solar energy provider reported $0.22 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.22. The business had revenue of $912.20 million for the quarter, compared to analyst estimates of $812.37 million. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The firm’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS.
Several equities analysts have issued reports on the company. Goldman Sachs Group initiated coverage on Canadian Solar in a research note on Tuesday. They issued a “neutral” rating and a $19.00 target price for the company. Axiom Securities cut Canadian Solar from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a research note on Friday, December 15th. JPMorgan Chase & Co. cut Canadian Solar from a “neutral” rating to an “underweight” rating and set a $15.00 target price for the company. in a research note on Tuesday, December 12th. Cowen set a $18.00 target price on Canadian Solar and gave the company a “hold” rating in a research note on Monday, December 11th. Finally, B. Riley set a $15.00 price objective on Canadian Solar and gave the stock a “hold” rating in a research note on Monday, December 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.82.
Canadian Solar (NASDAQ CSIQ) traded down $0.20 during trading on Tuesday, hitting $16.90. The company had a trading volume of 375,422 shares, compared to its average volume of 803,700. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.88. The company has a market cap of $982.15, a P/E ratio of 41.22, a PEG ratio of 0.36 and a beta of 3.10. Canadian Solar has a 1-year low of $10.86 and a 1-year high of $19.09.
Institutional investors and hedge funds have recently made changes to their positions in the company. Pacad Investment Ltd. bought a new position in shares of Canadian Solar in the 2nd quarter valued at $115,000. Legal & General Group Plc raised its position in Canadian Solar by 111.1% during the 2nd quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock worth $124,000 after purchasing an additional 4,100 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Canadian Solar during the 2nd quarter worth $323,000. State Street Corp raised its position in Canadian Solar by 6.0% during the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after purchasing an additional 1,227 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Canadian Solar during the 2nd quarter worth $370,000. Institutional investors own 42.08% of the company’s stock.
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About Canadian Solar
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
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