-$0.31 EPS Expected for Canadian Solar Inc. (NASDAQ:CSIQ) This Quarter

Equities research analysts expect that Canadian Solar Inc. (NASDAQ:CSIQ) will announce ($0.31) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Canadian Solar’s earnings, with estimates ranging from ($0.66) to ($0.11). Canadian Solar reported earnings per share of $0.09 during the same quarter last year, which suggests a negative year over year growth rate of 444.4%. The company is scheduled to report its next earnings results on Friday, August 6th.

According to Zacks, analysts expect that Canadian Solar will report full year earnings of $1.51 per share for the current year, with EPS estimates ranging from $0.15 to $2.38. For the next year, analysts expect that the firm will post earnings of $4.09 per share, with EPS estimates ranging from $2.81 to $5.07. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Wednesday, May 19th. The solar energy provider reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. Canadian Solar had a return on equity of 2.44% and a net margin of 1.57%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company posted $1.84 EPS. The business’s revenue for the quarter was up 31.9% compared to the same quarter last year.

Several research analysts recently weighed in on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut their target price on Canadian Solar from $63.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, May 25th. Citigroup lowered their price target on Canadian Solar from $63.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, May 25th. JPMorgan Chase & Co. lowered their price target on Canadian Solar from $54.00 to $46.00 and set a “neutral” rating for the company in a report on Monday, March 8th. Finally, Roth Capital increased their price target on Canadian Solar from $50.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, March 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Canadian Solar has a consensus rating of “Buy” and a consensus price target of $51.78.

Shares of CSIQ opened at $39.90 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.14 and a debt-to-equity ratio of 0.37. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 41.56, a P/E/G ratio of 2.09 and a beta of 1.43. The business has a fifty day moving average price of $41.02. Canadian Solar has a twelve month low of $16.82 and a twelve month high of $67.39.

Several institutional investors have recently made changes to their positions in CSIQ. First Trust Advisors LP grew its stake in shares of Canadian Solar by 3.9% during the first quarter. First Trust Advisors LP now owns 57,098 shares of the solar energy provider’s stock valued at $1,064,000 after acquiring an additional 2,148 shares in the last quarter. Comerica Bank acquired a new position in Canadian Solar in the fourth quarter worth about $202,000. Creative Planning acquired a new position in Canadian Solar in the fourth quarter worth about $353,000. Camden Capital LLC acquired a new position in Canadian Solar in the fourth quarter worth about $243,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Canadian Solar by 8.7% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 37,975 shares of the solar energy provider’s stock worth $1,946,000 after purchasing an additional 3,035 shares in the last quarter. Institutional investors own 46.09% of the company’s stock.

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. The company operates through two segments, Module and System Solutions (MSS), and Energy. The MSS segment engages in the design, development, manufacture, and sale of a range of solar power products, including standard solar modules, specialty solar products, and solar system kits that are a ready-to-install packages comprising inverters, racking systems, and other accessories.

See Also: Systematic Risk

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