Canadian Solar Inc. (CSIQ) Expected to Announce Earnings of $1.06 Per Share
Equities analysts expect Canadian Solar Inc. (NASDAQ:CSIQ) to post earnings of $1.06 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Canadian Solar’s earnings, with estimates ranging from $0.92 to $1.18. Canadian Solar posted earnings of $0.24 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 341.7%. The firm is scheduled to announce its next earnings report on Tuesday, March 20th.
According to Zacks, analysts expect that Canadian Solar will report full-year earnings of $1.53 per share for the current fiscal year, with EPS estimates ranging from $1.41 to $1.62. For the next year, analysts anticipate that the business will report earnings of $1.84 per share, with EPS estimates ranging from $1.26 to $2.70. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Canadian Solar.
Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.22. The company 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 company’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter last year, the company earned $0.27 earnings per share.
A number of analysts recently commented on the company. B. Riley reiterated a “neutral” rating on shares of Canadian Solar in a report on Wednesday, November 1st. Roth Capital upgraded Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Friday, November 10th. Zacks Investment Research lowered Canadian Solar from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Axiom Securities set a $26.00 price target on Canadian Solar and gave the stock a “buy” rating in a report on Wednesday, November 15th. Finally, BidaskClub upgraded Canadian Solar from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.01.
Shares of Canadian Solar (NASDAQ:CSIQ) traded up $0.34 during trading on Friday, reaching $18.13. The company had a trading volume of 1,011,900 shares, compared to its average volume of 1,258,997. The company has a market capitalization of $1,030.00, a price-to-earnings ratio of 84.71, a P/E/G ratio of 0.71 and a beta of 3.12. Canadian Solar has a 1-year low of $10.36 and a 1-year high of $19.09. The company has a quick ratio of 0.88, a current ratio of 0.95 and a debt-to-equity ratio of 0.45.
Several hedge funds and other institutional investors have recently made changes to their positions in CSIQ. Pacad Investment Ltd. purchased a new position in shares of Canadian Solar in the second quarter valued at $115,000. Legal & General Group Plc grew its position in shares of Canadian Solar by 111.1% in the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after purchasing an additional 4,100 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Canadian Solar in the first quarter valued at $303,000. Columbus Circle Investors purchased a new position in shares of Canadian Solar in the second quarter valued at $318,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Canadian Solar in the second quarter valued at $323,000. Institutional investors own 42.54% of the company’s stock.
Canadian Solar Company Profile
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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