Brokerages Anticipate Canadian Solar Inc. (CSIQ) to Post $1.06 Earnings Per Share

Wall Street analysts predict that Canadian Solar Inc. (NASDAQ:CSIQ) will post earnings per share of $1.06 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Canadian Solar’s earnings. The highest EPS estimate is $1.18 and the lowest is $0.92. Canadian Solar posted earnings of $0.24 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 341.7%. The firm is expected to announce its next quarterly earnings report on Tuesday, March 20th.

On average, analysts expect that Canadian Solar will report full year earnings of $1.53 per share for the current financial year, with EPS estimates ranging from $1.41 to $1.62. For the next fiscal year, analysts expect that the business will report earnings of $1.84 per share, with EPS estimates ranging from $1.26 to $2.70. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The firm had revenue of $912.20 million during the quarter, compared to the consensus estimate of $812.37 million. During the same quarter in the prior year, the firm posted $0.27 EPS. The business’s revenue was up 38.8% on a year-over-year basis.

A number of research firms have weighed in on CSIQ. Cowen reaffirmed a “market perform” rating and set a $17.00 price target (up previously from $16.00) on shares of Canadian Solar in a research report on Tuesday, August 15th. B. Riley reaffirmed a “neutral” rating on shares of Canadian Solar in a research report on Wednesday, November 1st. Axiom Securities set a $26.00 price target on Canadian Solar and gave the stock a “buy” rating in a research report on Wednesday, November 15th. FBR & Co reaffirmed a “neutral” rating and set a $15.00 price target (up previously from $13.00) on shares of Canadian Solar in a research report on Tuesday, August 15th. Finally, Barclays downgraded Canadian Solar from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $12.00 to $14.00 in a research report on Monday, August 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $20.01.

Several institutional investors have recently made changes to their positions in the company. Quentec Asset Management LLC raised its stake in shares of Canadian Solar by 1.9% during the 3rd quarter. Quentec Asset Management LLC now owns 2,755,665 shares of the solar energy provider’s stock worth $46,405,000 after purchasing an additional 52,412 shares in the last quarter. J&P China Capital Management CO. Ltd. bought a new stake in Canadian Solar in the 3rd quarter valued at $11,792,000. Calamos Advisors LLC raised its stake in Canadian Solar by 45.2% in the 3rd quarter. Calamos Advisors LLC now owns 408,073 shares of the solar energy provider’s stock valued at $6,872,000 after acquiring an additional 127,073 shares during the period. Delta Lloyd Asset Management N.V. bought a new stake in Canadian Solar in the 2nd quarter valued at $3,662,000. Finally, Quantitative Investment Management LLC bought a new stake in Canadian Solar in the 2nd quarter valued at $2,803,000. Institutional investors own 42.52% of the company’s stock.

Canadian Solar (CSIQ) traded up $0.38 during trading hours on Wednesday, reaching $16.50. The company’s stock had a trading volume of 1,279,400 shares, compared to its average volume of 1,251,630. Canadian Solar has a 52-week low of $10.86 and a 52-week high of $19.09. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. The firm has a market cap of $935.01, a P/E ratio of 76.76, a P/E/G ratio of 0.64 and a beta of 3.08.

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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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