Equities analysts expect Canadian Solar Inc. (NASDAQ:CSIQ) to post earnings per share of $0.39 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Canadian Solar’s earnings. The highest EPS estimate is $0.68 and the lowest is $0.22. Canadian Solar reported earnings per share of $0.29 in the same quarter last year, which would suggest a positive year-over-year growth rate of 34.5%. The company is expected to announce its next earnings results on Monday, November 20th.
On average, analysts expect that Canadian Solar will report full-year earnings of $1.73 per share for the current year, with EPS estimates ranging from $1.44 to $1.87. For the next year, analysts forecast that the company will report earnings of $1.80 per share, with EPS estimates ranging from $1.25 to $2.70. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that follow Canadian Solar.
Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Monday, August 14th. The solar energy provider reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.01. The company had revenue of $692.37 million for the quarter, compared to analysts’ expectations of $631.05 million. Canadian Solar had a return on equity of 1.71% and a net margin of 1.01%. The firm’s quarterly revenue was down 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share.
A number of equities research analysts recently issued reports on the stock. Cowen and Company reiterated a “market perform” rating and issued a $17.00 price objective (up from $16.00) on shares of Canadian Solar in a report on Tuesday, August 15th. Axiom Securities restated a “sell” rating on shares of Canadian Solar in a report on Friday, June 9th. FBR & Co restated a “neutral” rating and set a $15.00 price target (up from $13.00) on shares of Canadian Solar in a report on Tuesday, August 15th. BidaskClub cut shares of Canadian Solar from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Finally, Barclays PLC cut shares of Canadian Solar from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $12.00 to $14.00 in a report on Monday, August 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $17.21.
Large investors have recently added to or reduced their stakes in the stock. Quentec Asset Management LLC boosted its stake in Canadian Solar by 18.6% in the second quarter. Quentec Asset Management LLC now owns 2,703,253 shares of the solar energy provider’s stock valued at $43,036,000 after buying an additional 424,601 shares during the last quarter. Calamos Advisors LLC bought a new stake in Canadian Solar during the second quarter valued at $4,474,000. Delta Lloyd Asset Management N.V. bought a new stake in Canadian Solar during the second quarter valued at $3,662,000. Quantitative Investment Management LLC bought a new stake in Canadian Solar during the second quarter valued at $2,803,000. Finally, SG Americas Securities LLC boosted its stake in Canadian Solar by 194.4% in the first quarter. SG Americas Securities LLC now owns 171,985 shares of the solar energy provider’s stock valued at $2,110,000 after buying an additional 113,569 shares during the last quarter. Institutional investors and hedge funds own 41.26% of the company’s stock.
Shares of Canadian Solar (CSIQ) traded up 2.48% on Friday, hitting $16.10. The company’s stock had a trading volume of 642,914 shares. The stock’s 50 day moving average price is $16.45 and its 200 day moving average price is $14.32. The stock has a market capitalization of $932.95 million, a P/E ratio of 38.15 and a beta of 3.13. Canadian Solar has a 52 week low of $10.25 and a 52 week high of $18.12.
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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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