Canadian Solar (NASDAQ:CSIQ – Get Rating) announced its quarterly earnings data on Tuesday. The solar energy provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.31, RTT News reports. Canadian Solar had a return on equity of 3.63% and a net margin of 1.80%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business posted $0.36 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Canadian Solar updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.
Shares of NASDAQ CSIQ opened at $29.14 on Tuesday. Canadian Solar has a 12 month low of $22.15 and a 12 month high of $48.35. The company has a current ratio of 1.18, a quick ratio of 0.89 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 20.10 and a beta of 1.47. The business has a 50-day moving average of $31.49 and a 200-day moving average of $31.55.
CSIQ has been the topic of a number of research reports. Zacks Investment Research upgraded Canadian Solar from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a research note on Wednesday, March 2nd. JPMorgan Chase & Co. decreased their price target on Canadian Solar from $41.00 to $39.00 in a research report on Friday, March 18th. StockNews.com assumed coverage on Canadian Solar in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Citigroup upped their price target on Canadian Solar from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, March 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.86.
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.
- Get a free copy of the StockNews.com research report on Canadian Solar (CSIQ)
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