Canadian Solar Inc. (CSIQ) Expected to Announce Quarterly Sales of $728.65 Million

Wall Street analysts expect Canadian Solar Inc. (NASDAQ:CSIQ) to announce $728.65 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Canadian Solar’s earnings, with the highest sales estimate coming in at $775.00 million and the lowest estimate coming in at $682.30 million. Canadian Solar posted sales of $1.11 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 34.4%. The company is scheduled to report its next earnings results on Monday, March 18th.

According to Zacks, analysts expect that Canadian Solar will report full-year sales of $3.57 billion for the current financial year, with estimates ranging from $3.53 billion to $3.62 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.95 billion, with estimates ranging from $3.62 billion to $4.19 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Thursday, November 15th. The solar energy provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.50. The firm had revenue of $767.97 million during the quarter, compared to analysts’ expectations of $806.13 million. Canadian Solar had a return on equity of 15.89% and a net margin of 4.73%.

A number of analysts have weighed in on the company. Zacks Investment Research raised Canadian Solar from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Thursday, August 16th. JPMorgan Chase & Co. cut Canadian Solar from a “neutral” rating to an “underweight” rating and set a $15.00 price objective for the company. in a research report on Monday, October 22nd. They noted that the move was a valuation call. ValuEngine raised Canadian Solar from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. BidaskClub cut Canadian Solar from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Canadian Solar in a research report on Thursday, November 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $16.50.

Canadian Solar stock traded down $0.82 during mid-day trading on Thursday, reaching $16.49. 865,751 shares of the company were exchanged, compared to its average volume of 813,956. Canadian Solar has a twelve month low of $11.37 and a twelve month high of $18.40. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $980.25 million, a price-to-earnings ratio of 15.86, a PEG ratio of 0.22 and a beta of 1.77.

A number of institutional investors have recently bought and sold shares of CSIQ. First Trust Advisors LP raised its stake in shares of Canadian Solar by 9.3% during the 2nd quarter. First Trust Advisors LP now owns 60,417 shares of the solar energy provider’s stock worth $740,000 after buying an additional 5,142 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Canadian Solar by 8.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 78,173 shares of the solar energy provider’s stock worth $957,000 after buying an additional 5,890 shares in the last quarter. Guinness Asset Management Ltd raised its stake in shares of Canadian Solar by 30.0% during the 2nd quarter. Guinness Asset Management Ltd now owns 30,800 shares of the solar energy provider’s stock worth $377,000 after buying an additional 7,100 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Canadian Solar during the 3rd quarter worth approximately $105,000. Finally, Sei Investments Co. raised its stake in shares of Canadian Solar by 467.8% during the 2nd quarter. Sei Investments Co. now owns 11,549 shares of the solar energy provider’s stock worth $141,000 after buying an additional 9,515 shares in the last quarter. 39.58% of the stock is owned by institutional investors.

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 primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

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