Q1 2018 EPS Estimates for Canadian Solar Raised by B. Riley (CSIQ)

Canadian Solar (NASDAQ:CSIQ) – Research analysts at B. Riley raised their Q1 2018 earnings estimates for shares of Canadian Solar in a research note issued on Tuesday. B. Riley analyst C. Driscoll now forecasts that the solar energy provider will post earnings per share of $0.36 for the quarter, up from their prior forecast of $0.24. B. Riley has a “Hold” rating and a $18.00 price target on the stock. B. Riley also issued estimates for Canadian Solar’s Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.46 EPS and FY2018 earnings at $1.63 EPS.

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Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Monday, March 19th. The solar energy provider reported $1.01 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.01. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. Canadian Solar had a net margin of 2.94% and a return on equity of 6.11%. Canadian Solar’s revenue for the quarter was up 65.9% on a year-over-year basis. During the same period last year, the firm earned $0.24 EPS.

Several other research firms also recently commented on CSIQ. UBS initiated coverage on shares of Canadian Solar in a report on Thursday, March 15th. They issued a “sell” rating and a $15.00 price objective for the company. Axiom Securities downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a report on Friday, December 15th. JPMorgan Chase & Co. raised shares of Canadian Solar from an “underweight” rating to a “neutral” rating and set a $16.00 price target for the company in a report on Thursday, February 1st. BidaskClub downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, Cowen set a $18.00 price target on shares of Canadian Solar and gave the company a “hold” rating in a report on Monday, December 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $17.84.

Canadian Solar stock opened at $17.08 on Thursday. The company has a market cap of $994.76, a P/E ratio of 10.48, a P/E/G ratio of 0.47 and a beta of 2.60. Canadian Solar has a fifty-two week low of $10.86 and a fifty-two week high of $19.09. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.50.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Canadian Solar by 6.0% during the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after acquiring an additional 1,227 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Canadian Solar by 11.7% during the 2nd quarter. Northern Trust Corp now owns 30,588 shares of the solar energy provider’s stock worth $487,000 after acquiring an additional 3,198 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Canadian Solar by 9.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 64,707 shares of the solar energy provider’s stock worth $1,091,000 after acquiring an additional 5,452 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Canadian Solar by 9.5% during the 4th quarter. First Trust Advisors LP now owns 63,480 shares of the solar energy provider’s stock worth $1,070,000 after acquiring an additional 5,514 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Canadian Solar by 51.6% during the 4th quarter. Two Sigma Advisers LP now owns 22,902 shares of the solar energy provider’s stock worth $386,000 after acquiring an additional 7,800 shares during the last quarter. 39.13% of the stock is owned by institutional investors.

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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.

Earnings History and Estimates for Canadian Solar (NASDAQ:CSIQ)

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