Canadian Solar (CSIQ) to Release Quarterly Earnings on Tuesday

Canadian Solar (NASDAQ:CSIQ) will issue its quarterly earnings data before the market opens on Tuesday, November 14th. Analysts expect the company to announce earnings of $0.91 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Tuesday, August 22nd. The solar energy provider reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.87. Canadian Solar had a return on equity of 15.92% and a net margin of 5.14%. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the firm earned $1.07 EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, analysts expect Canadian Solar to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Canadian Solar Stock Down 0.4 %

Canadian Solar stock opened at $21.56 on Tuesday. Canadian Solar has a twelve month low of $18.96 and a twelve month high of $45.29. The stock has a 50 day moving average of $24.02 and a two-hundred day moving average of $32.38. The company has a current ratio of 1.22, a quick ratio of 0.96 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 3.71 and a beta of 1.49.

Wall Street Analysts Forecast Growth

CSIQ has been the subject of several research analyst reports. Citigroup dropped their price objective on Canadian Solar from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 18th. Roth Mkm dropped their price objective on Canadian Solar from $70.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, August 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $68.00 price objective on shares of Canadian Solar in a research note on Wednesday, August 23rd. StockNews.com assumed coverage on Canadian Solar in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, UBS Group lowered their target price on Canadian Solar from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, August 29th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.57.

Institutional Trading of Canadian Solar

Hedge funds have recently modified their holdings of the business. Bridgefront Capital LLC purchased a new stake in shares of Canadian Solar during the second quarter worth $260,000. Pinpoint Asset Management Ltd purchased a new stake in shares of Canadian Solar during the first quarter worth $244,000. CenterBook Partners LP purchased a new stake in shares of Canadian Solar during the first quarter worth $227,000. XTX Topco Ltd purchased a new stake in shares of Canadian Solar during the first quarter worth $213,000. Finally, Two Sigma Advisers LP acquired a new position in Canadian Solar during the first quarter worth $211,000. Hedge funds and other institutional investors own 50.35% of the company’s stock.

Canadian Solar Company Profile

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.