$797.86 Million in Sales Expected for Canadian Solar Inc. (NASDAQ:CSIQ) This Quarter

Analysts forecast that Canadian Solar Inc. (NASDAQ:CSIQ) will post sales of $797.86 million for the current quarter, according to Zacks. Three analysts have made estimates for Canadian Solar’s earnings, with the highest sales estimate coming in at $801.00 million and the lowest estimate coming in at $793.00 million. Canadian Solar reported sales of $767.97 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.9%. The business is expected to announce its next quarterly earnings report on Thursday, November 21st.

On average, analysts expect that Canadian Solar will report full-year sales of $3.64 billion for the current financial year, with estimates ranging from $3.60 billion to $3.70 billion. For the next financial year, analysts expect 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 calculations are an average based on a survey of 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.54. Canadian Solar had a net margin of 7.01% and a return on equity of 14.80%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $990.29 million. During the same period in the prior year, the firm posted $0.26 EPS. Canadian Solar’s revenue for the quarter was up 59.4% on a year-over-year basis.



Several research firms have issued reports on CSIQ. Zacks Investment Research upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Thursday, June 20th. BidaskClub cut shares of Canadian Solar from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. set a $25.00 target price on shares of Canadian Solar and gave the company a “hold” rating in a research note on Friday, June 21st. Cascend Securities restated a “buy” rating and set a $30.00 target price (up previously from $25.00) on shares of Canadian Solar in a research note on Friday, August 16th. Finally, Roth Capital upped their target price on shares of Canadian Solar from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.50.

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can lifted its stake in Canadian Solar by 59.4% during the 2nd quarter. Bank of Montreal Can now owns 2,951 shares of the solar energy provider’s stock valued at $65,000 after acquiring an additional 1,100 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Canadian Solar in the 2nd quarter worth approximately $68,000. C M Bidwell & Associates Ltd. lifted its stake in shares of Canadian Solar by 30.0% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 4,530 shares of the solar energy provider’s stock worth $99,000 after purchasing an additional 1,045 shares during the period. Advisor Group Inc. lifted its stake in shares of Canadian Solar by 14.7% in the 2nd quarter. Advisor Group Inc. now owns 4,896 shares of the solar energy provider’s stock worth $107,000 after purchasing an additional 629 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Canadian Solar by 260.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 7,463 shares of the solar energy provider’s stock worth $139,000 after purchasing an additional 5,391 shares during the period. Institutional investors and hedge funds own 41.23% of the company’s stock.

CSIQ traded up $0.14 during midday trading on Friday, hitting $21.40. 409,623 shares of the company traded hands, compared to its average volume of 806,460. The company has a quick ratio of 0.87, a current ratio of 0.99 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $1.26 billion, a PE ratio of 6.52, a price-to-earnings-growth ratio of 0.23 and a beta of 2.02. The company’s 50-day moving average is $22.43 and its 200 day moving average is $20.90. Canadian Solar has a 52 week low of $12.69 and a 52 week high of $25.89.

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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