Analysts expect Canadian Solar Inc. (NASDAQ:CSIQ) to announce $806.13 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Canadian Solar’s earnings, with the highest sales estimate coming in at $811.71 million and the lowest estimate coming in at $799.00 million. Canadian Solar reported sales of $912.22 million in the same quarter last year, which indicates a negative year-over-year growth rate of 11.6%. The company is scheduled to report its next earnings report on Thursday, November 8th.

According to Zacks, analysts expect that Canadian Solar will report full year sales of $4.05 billion for the current fiscal year, with estimates ranging from $4.00 billion to $4.12 billion. For the next financial year, analysts anticipate that the firm will report sales of $4.12 billion per share, with estimates ranging from $3.62 billion to $4.65 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Tuesday, August 14th. The solar energy provider reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The business had revenue of $650.10 million for the quarter, compared to analyst estimates of $711.53 million. Canadian Solar had a return on equity of 12.44% and a net margin of 3.26%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 earnings per share.

A number of brokerages recently issued reports on CSIQ. ValuEngine raised Canadian Solar from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. B. Riley set a $18.00 target price on Canadian Solar and gave the company a “hold” rating in a research report on Wednesday, August 15th. Zacks Investment Research cut Canadian Solar from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. BidaskClub raised Canadian Solar from a “sell” rating to a “hold” rating in a research report on Thursday, May 17th. Finally, JPMorgan Chase & Co. raised Canadian Solar from an “underweight” rating to a “neutral” rating and decreased their target price for the company from $17.00 to $15.00 in a research report on Thursday, June 7th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $17.67.

Shares of NASDAQ CSIQ traded down $0.28 during trading hours on Friday, reaching $14.66. The stock had a trading volume of 328,621 shares, compared to its average volume of 812,335. The stock has a market cap of $853.81 million, a PE ratio of 14.37, a price-to-earnings-growth ratio of 0.33 and a beta of 2.40. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.20. Canadian Solar has a fifty-two week low of $11.37 and a fifty-two week high of $19.09.

Institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. raised its stake in Canadian Solar by 467.8% during the 2nd quarter. Sei Investments Co. now owns 11,549 shares of the solar energy provider’s stock valued at $141,000 after acquiring an additional 9,515 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Canadian Solar during the 2nd quarter worth approximately $145,000. Bayesian Capital Management LP purchased a new position in shares of Canadian Solar during the 1st quarter worth approximately $303,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Canadian Solar during the 1st quarter worth approximately $318,000. Finally, Guinness Asset Management Ltd raised its stake in shares of Canadian Solar by 30.0% during the 2nd quarter. Guinness Asset Management Ltd now owns 30,800 shares of the solar energy provider’s stock worth $377,000 after buying an additional 7,100 shares in the last quarter. 36.04% of the stock is owned by hedge funds and other institutional investors.

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 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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Earnings History and Estimates for Canadian Solar (NASDAQ:CSIQ)

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