Brokerages Expect Canadian Solar Inc. (NASDAQ:CSIQ) Will Post Earnings of $0.23 Per Share

Analysts expect that Canadian Solar Inc. (NASDAQ:CSIQ) will post earnings per share of $0.23 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Canadian Solar’s earnings, with estimates ranging from $0.17 to $0.28. Canadian Solar posted earnings of $0.26 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.5%. The company is expected to announce its next earnings report on Tuesday, August 13th.

According to Zacks, analysts expect that Canadian Solar will report full year earnings of $2.45 per share for the current fiscal year, with EPS estimates ranging from $2.29 to $2.77. For the next fiscal year, analysts anticipate that the company will post earnings of $2.88 per share, with EPS estimates ranging from $2.50 to $3.30. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Thursday, May 30th. The solar energy provider reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.15. The company had revenue of $484.70 million during the quarter, compared to analyst estimates of $468.25 million. Canadian Solar had a return on equity of 12.92% and a net margin of 6.29%. The firm’s revenue was down 46.2% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share.



Several research analysts recently commented on CSIQ shares. JPMorgan Chase & Co. set a $44.00 price target on Charles Schwab and gave the stock a “buy” rating in a research report on Friday, June 21st. ValuEngine lowered Willdan Group from a “buy” rating to a “hold” rating in a research report on Thursday, May 30th. Zacks Investment Research upgraded Hanmi Financial from a “sell” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, BidaskClub lowered Xencor from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $22.50.

Several large investors have recently made changes to their positions in CSIQ. Financial Gravity Wealth Inc. purchased a new position in shares of Canadian Solar during the first quarter valued at approximately $26,000. Macquarie Group Ltd. purchased a new position in shares of Canadian Solar during the fourth quarter valued at approximately $118,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Canadian Solar by 260.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 7,463 shares of the solar energy provider’s stock valued at $139,000 after buying an additional 5,391 shares during the period. Nordea Investment Management AB purchased a new position in shares of Canadian Solar during the fourth quarter valued at approximately $149,000. Finally, Deutsche Bank AG boosted its position in shares of Canadian Solar by 526.9% during the fourth quarter. Deutsche Bank AG now owns 13,691 shares of the solar energy provider’s stock valued at $196,000 after buying an additional 11,507 shares during the period. Institutional investors and hedge funds own 40.69% of the company’s stock.

CSIQ traded up $0.21 on Friday, hitting $20.94. The company had a trading volume of 407,144 shares, compared to its average volume of 579,437. The firm has a market cap of $1.24 billion, a P/E ratio of 6.38, a PEG ratio of 0.27 and a beta of 2.28. Canadian Solar has a 12-month low of $12.30 and a 12-month high of $25.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.01. The company’s fifty day moving average is $21.35.

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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