$0.38 EPS Expected for Canadian Solar (CSIQ) This Quarter

Analysts expect Canadian Solar (NASDAQ:CSIQ) to report earnings of $0.38 per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Canadian Solar’s earnings, with the highest EPS estimate coming in at $0.59 and the lowest estimate coming in at $0.20. Canadian Solar posted earnings per share of ($0.10) in the same quarter last year, which indicates a positive year over year growth rate of 480%. The company is scheduled to issue its next earnings report on Tuesday, June 5th.

According to Zacks, analysts expect that Canadian Solar will report full-year earnings of $1.40 per share for the current fiscal year, with EPS estimates ranging from $0.86 to $1.69. For the next fiscal year, analysts anticipate that the business will report earnings of $1.74 per share, with EPS estimates ranging from $1.64 to $1.86. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Canadian Solar.

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Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Monday, March 19th. The solar energy provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. Canadian Solar had a net margin of 2.94% and a return on equity of 6.11%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the company posted $0.24 EPS. Canadian Solar’s revenue was up 65.9% on a year-over-year basis.

A number of research analysts recently issued reports on the stock. JPMorgan Chase cut shares of Canadian Solar from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $17.51 to $17.00 in a research report on Tuesday, March 27th. They noted that the move was a valuation call. Oppenheimer lowered their price target on shares of Canadian Solar from $32.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, March 20th. B. Riley reissued a “hold” rating and set a $18.00 price target on shares of Canadian Solar in a research report on Tuesday, March 20th. ValuEngine raised shares of Canadian Solar from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 19th. Finally, UBS assumed coverage on shares of Canadian Solar in a research report on Thursday, March 15th. They set a “sell” rating and a $15.00 price target for the company. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Canadian Solar has an average rating of “Hold” and an average price target of $17.92.

Shares of NASDAQ CSIQ opened at $16.13 on Wednesday. Canadian Solar has a 1 year low of $12.07 and a 1 year high of $19.09. The stock has a market cap of $946.03, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 0.45 and a beta of 2.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.99 and a quick ratio of 0.91.

A number of institutional investors have recently modified their holdings of CSIQ. We Are One Seven LLC purchased a new position in Canadian Solar in the fourth quarter worth about $142,000. Oppenheimer & Co. Inc. purchased a new position in Canadian Solar in the fourth quarter worth about $223,000. HBK Investments L P purchased a new position in Canadian Solar in the fourth quarter worth about $282,000. State Street Corp raised its holdings in Canadian Solar by 6.0% in the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after buying an additional 1,227 shares during the last quarter. Finally, Quinn Opportunity Partners LLC purchased a new position in Canadian Solar in the fourth quarter worth about $354,000. 39.15% of the stock is owned by institutional investors and hedge funds.

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

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