Equities research analysts predict that Canadian Solar Inc. (NASDAQ:CSIQ) will announce $797.86 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Canadian Solar’s earnings, with estimates ranging from $793.00 million to $801.00 million. Canadian Solar posted sales of $767.97 million during the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The company is scheduled to announce its next earnings report after the market closes on Tuesday, November 12th.
According to Zacks, analysts expect that Canadian Solar will report full-year sales of $3.64 billion for the current fiscal year, with estimates ranging from $3.60 billion to $3.70 billion. For the next fiscal year, analysts forecast that the business will report sales of $4.14 billion, with estimates ranging from $4.01 billion to $4.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Canadian Solar.
Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, August 15th. The solar energy provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.54. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $990.29 million. Canadian Solar had a return on equity of 14.80% and a net margin of 7.01%. The firm’s revenue for the quarter was up 59.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS.
Several research firms have recently commented on CSIQ. Roth Capital upped their price target on Canadian Solar from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Cascend Securities restated a “buy” rating and set a $30.00 price target (up previously from $25.00) on shares of Canadian Solar in a research note on Friday, August 16th. ValuEngine cut Canadian Solar from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 10th. Finally, BidaskClub lowered Canadian Solar from a “sell” rating to a “strong sell” rating in a report on Saturday, November 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $25.50.
Institutional investors have recently bought and sold shares of the business. Advisor Group Inc. grew its holdings in Canadian Solar by 14.7% in the second quarter. Advisor Group Inc. now owns 4,896 shares of the solar energy provider’s stock valued at $107,000 after purchasing an additional 629 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Canadian Solar by 0.9% in the second quarter. First Trust Advisors LP now owns 57,623 shares of the solar energy provider’s stock valued at $1,258,000 after acquiring an additional 525 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Canadian Solar by 3.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 37,369 shares of the solar energy provider’s stock valued at $816,000 after acquiring an additional 1,300 shares in the last quarter. Northern Trust Corp lifted its position in shares of Canadian Solar by 1.1% in the second quarter. Northern Trust Corp now owns 86,086 shares of the solar energy provider’s stock valued at $1,879,000 after acquiring an additional 976 shares in the last quarter. Finally, CoreCommodity Management LLC lifted its position in shares of Canadian Solar by 5.2% in the second quarter. CoreCommodity Management LLC now owns 34,452 shares of the solar energy provider’s stock valued at $752,000 after acquiring an additional 1,709 shares in the last quarter. 41.62% of the stock is currently owned by institutional investors.
Shares of NASDAQ CSIQ traded down $0.22 during trading on Thursday, hitting $16.90. 540,500 shares of the company were exchanged, compared to its average volume of 789,690. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.87 and a current ratio of 0.99. Canadian Solar has a 12-month low of $13.24 and a 12-month high of $25.89. The company has a fifty day moving average price of $18.62 and a 200-day moving average price of $20.43. The firm has a market capitalization of $1.03 billion, a PE ratio of 5.15, a P/E/G ratio of 0.18 and a beta of 2.02.
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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