Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Canadian Solar (CSIQ) Stock Price
News headlines about Canadian Solar (NASDAQ:CSIQ) have trended somewhat positive on Wednesday, Accern reports. The research group identifies positive and negative press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Canadian Solar earned a news impact score of 0.20 on Accern’s scale. Accern also gave headlines about the solar energy provider an impact score of 47.7208007233219 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the headlines that may have effected Accern’s scoring:
- Canadian Solar (CSIQ) Issues Earnings Results, Beats Expectations By $0.34 EPS (americanbankingnews.com)
- Canadian Solar Turns To Profit In Q1 (nasdaq.com)
- Canadian Solar beats by $0.25, beats on revenue (seekingalpha.com)
- Canadian Solar (CSIQ) Tops Q1 EPS by 25c, Beats on Revenues (streetinsider.com)
- Canadian Solar (CSIQ) Q1 Earnings & Sales Top Estimates (zacks.com)
A number of equities analysts have recently weighed in on the company. JPMorgan Chase lowered Canadian Solar from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $17.51 to $17.00 in a research note on Tuesday, March 27th. They noted that the move was a valuation call. Zacks Investment Research upgraded Canadian Solar from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday. B. Riley reiterated a “hold” rating and set a $18.00 target price on shares of Canadian Solar in a research note on Tuesday, March 20th. ValuEngine upgraded Canadian Solar from a “buy” rating to a “strong-buy” rating in a research note on Monday, March 19th. Finally, Oppenheimer lowered their target price on Canadian Solar from $32.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 20th. Four analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Canadian Solar presently has an average rating of “Hold” and an average target price of $17.84.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings data on Wednesday, May 16th. The solar energy provider reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.34. Canadian Solar had a return on equity of 6.11% and a net margin of 2.94%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the company earned ($0.23) EPS. The company’s revenue was up 110.5% on a year-over-year basis. sell-side analysts expect that Canadian Solar will post 1.4 earnings per share for the current fiscal year.
About Canadian Solar
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 Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.
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