-$0.05 EPS Expected for Canadian Solar Inc. (NASDAQ:CSIQ) This Quarter

Wall Street analysts expect Canadian Solar Inc. (NASDAQ:CSIQGet Rating) to announce earnings per share (EPS) of ($0.05) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Canadian Solar’s earnings, with the lowest EPS estimate coming in at ($0.25) and the highest estimate coming in at $0.15. Canadian Solar posted earnings of $0.36 per share during the same quarter last year, which would suggest a negative year over year growth rate of 113.9%. The firm is expected to report its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Canadian Solar will report full year earnings of $3.22 per share for the current fiscal year, with EPS estimates ranging from $3.01 to $3.43. For the next fiscal year, analysts expect that the business will report earnings of $4.84 per share, with EPS estimates ranging from $4.31 to $5.37. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Canadian Solar.

Canadian Solar (NASDAQ:CSIQGet Rating) last posted its earnings results on Thursday, March 17th. The solar energy provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). The firm had revenue of $1.53 billion for 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 firm’s revenue for the quarter was up 46.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS.

Several equities analysts recently issued reports on CSIQ shares. StockNews.com started coverage on Canadian Solar in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Citigroup lifted their price objective on Canadian Solar from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, March 28th. JPMorgan Chase & Co. lowered their price objective on Canadian Solar from $41.00 to $39.00 in a report on Friday, March 18th. Finally, Zacks Investment Research raised Canadian Solar from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a report on Wednesday, March 2nd. 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’s stock. Based on data from MarketBeat.com, Canadian Solar has an average rating of “Hold” and an average price target of $40.86.

Shares of CSIQ stock opened at $27.26 on Monday. The stock has a market capitalization of $1.64 billion, a PE ratio of 18.80 and a beta of 1.47. Canadian Solar has a 52-week low of $22.15 and a 52-week high of $48.35. The stock’s 50-day moving average price is $31.74 and its 200 day moving average price is $31.91. The company has a quick ratio of 0.89, a current ratio of 1.18 and a debt-to-equity ratio of 0.35.

Several institutional investors have recently modified their holdings of CSIQ. Schroder Investment Management Group raised its position in shares of Canadian Solar by 612.4% during the 3rd quarter. Schroder Investment Management Group now owns 1,923,447 shares of the solar energy provider’s stock worth $66,532,000 after purchasing an additional 1,653,447 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Canadian Solar by 38.1% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,516,443 shares of the solar energy provider’s stock valued at $87,044,000 after acquiring an additional 693,810 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Canadian Solar by 22.5% in the 4th quarter. Mackenzie Financial Corp now owns 2,522,608 shares of the solar energy provider’s stock valued at $78,932,000 after acquiring an additional 462,600 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Canadian Solar by 129.2% during the 4th quarter. Handelsbanken Fonder AB now owns 619,664 shares of the solar energy provider’s stock worth $19,389,000 after buying an additional 349,355 shares during the last quarter. Finally, Guinness Asset Management LTD increased its holdings in shares of Canadian Solar by 32.5% during the 4th quarter. Guinness Asset Management LTD now owns 805,700 shares of the solar energy provider’s stock worth $25,210,000 after buying an additional 197,500 shares during the last quarter. Hedge funds and other institutional investors own 46.97% of the company’s stock.

Canadian Solar Company Profile (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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