Canadian Solar Inc. (NASDAQ:CSIQ) will be announcing its earnings results before the market opens on Monday, August 14th. Analysts expect the company to announce earnings of ($0.16) per share for the quarter.
Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Tuesday, June 6th. The solar energy provider reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.04 by $0.14. The firm had revenue of $677 million for the quarter, compared to analysts’ expectations of $580.45 million. Canadian Solar had a net margin of 1.04% and a return on equity of 7.12%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. On average, analysts expect Canadian Solar to post $1.54 EPS for the current fiscal year and $1.75 EPS for the next fiscal year.
Canadian Solar Inc. (NASDAQ CSIQ) opened at 17.20 on Friday. The firm’s 50-day moving average price is $16.43 and its 200 day moving average price is $13.93. Canadian Solar Inc. has a 12 month low of $10.25 and a 12 month high of $18.12. The stock has a market cap of $994.71 million, a price-to-earnings ratio of 34.19 and a beta of 3.09.
A number of equities analysts have recently issued reports on CSIQ shares. Cowen and Company set a $13.00 price target on Canadian Solar and gave the stock a “hold” rating in a research report on Monday, July 10th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $31.00 price target on shares of Canadian Solar in a research report on Thursday, April 20th. Axiom Securities started coverage on Canadian Solar in a research report on Monday, April 17th. They set a “buy” rating and a $18.00 price target on the stock. ValuEngine downgraded Canadian Solar from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub downgraded Canadian Solar from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Eight investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $16.91.
An institutional investor recently raised its position in Canadian Solar stock. Northern Trust Corp increased its position in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 11.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,588 shares of the solar energy provider’s stock after buying an additional 3,198 shares during the period. Northern Trust Corp owned 0.05% of Canadian Solar worth $487,000 at the end of the most recent reporting period. 35.42% of the stock is currently owned by institutional investors and hedge funds.
Canadian Solar Company Profile
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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