Analysts Anticipate Canadian Solar Inc. (NASDAQ:CSIQ) to Post -$0.17 Earnings Per Share

Analysts predict that Canadian Solar Inc. (NASDAQ:CSIQ – Get Rating) will report earnings of ($0.17) per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Canadian Solar’s earnings. The highest EPS estimate is $0.15 and the lowest is ($0.41). Canadian Solar reported earnings per share of $0.36 in the same quarter last year, which would suggest a negative year-over-year growth rate of 147.2%. The company is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Canadian Solar will report full-year earnings of $3.31 per share for the current financial year, with EPS estimates ranging from $3.01 to $3.49. For the next financial year, analysts anticipate that the firm will report earnings of $4.84 per share, with EPS estimates ranging from $4.31 to $5.37. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Canadian Solar.

Canadian Solar (NASDAQ:CSIQ – Get Rating) last posted its quarterly earnings results on Thursday, March 17th. The solar energy provider reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.16). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.59 billion. Canadian Solar had a return on equity of 3.63% and a net margin of 1.80%. The business’s revenue was up 46.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS.

A number of equities analysts have recently commented on the company. Citigroup boosted their price objective on Canadian Solar from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, March 28th. Zacks Investment Research raised shares of Canadian Solar from a “sell” rating to a “hold” rating and set a $35.00 price objective for the company in a research report on Wednesday, March 2nd. StockNews.com assumed coverage on shares of Canadian Solar in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of Canadian Solar from $41.00 to $39.00 in a research note on Friday, March 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $40.86.

NASDAQ CSIQ traded down $1.26 during trading hours on Tuesday, hitting $27.50. 11,248 shares of the company were exchanged, compared to its average volume of 1,056,623. The company has a quick ratio of 0.89, a current ratio of 1.18 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 18.97 and a beta of 1.38. The company has a 50 day moving average of $32.98 and a two-hundred day moving average of $33.11. Canadian Solar has a 52-week low of $23.25 and a 52-week high of $48.35.

A number of institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Canadian Solar by 3.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,685 shares of the solar energy provider’s stock worth $1,262,000 after acquiring an additional 1,225 shares during the period. Green Alpha Advisors LLC lifted its position in Canadian Solar by 15.3% during the 1st quarter. Green Alpha Advisors LLC now owns 36,369 shares of the solar energy provider’s stock worth $1,286,000 after acquiring an additional 4,816 shares during the period. North Growth Management Ltd. lifted its position in Canadian Solar by 60.0% during the 1st quarter. North Growth Management Ltd. now owns 24,000 shares of the solar energy provider’s stock worth $836,000 after acquiring an additional 9,000 shares during the period. Guinness Atkinson Asset Management Inc lifted its position in Canadian Solar by 1.3% during the 1st quarter. Guinness Atkinson Asset Management Inc now owns 30,208 shares of the solar energy provider’s stock worth $1,068,000 after acquiring an additional 396 shares during the period. Finally, Guinness Asset Management LTD lifted its position in Canadian Solar by 1.5% during the 1st quarter. Guinness Asset Management LTD now owns 817,760 shares of the solar energy provider’s stock worth $28,916,000 after acquiring an additional 12,060 shares during the period. 43.70% of the stock is owned by institutional investors.

About Canadian Solar (Get Rating)

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products. The company operates through two segments, Module and System Solutions (MSS), and Energy. The MSS segment engages in the design, development, manufacture, and sale of a range of solar power products, including standard solar modules, specialty solar products, and solar system kits that are a ready-to-install packages comprising inverters, racking systems, and other accessories.

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