Equities analysts expect that Canadian Solar Inc. (NASDAQ:CSIQ – Get Rating) will report sales of $1.29 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Canadian Solar’s earnings, with the lowest sales estimate coming in at $1.28 billion and the highest estimate coming in at $1.31 billion. Canadian Solar reported sales of $1.09 billion during the same quarter last year, which would suggest a positive year over year growth rate of 18.3%. The firm is scheduled to announce its next earnings results before the market opens on Monday, January 1st.
On average, analysts expect that Canadian Solar will report full-year sales of $7.26 billion for the current fiscal year, with estimates ranging from $7.05 billion to $7.42 billion. For the next fiscal year, analysts anticipate that the business will post sales of $8.09 billion, with estimates ranging from $7.82 billion to $8.37 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Canadian Solar.
Canadian Solar (NASDAQ:CSIQ – Get Rating) last announced its quarterly earnings data on Thursday, March 17th. The solar energy provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). Canadian Solar had a return on equity of 3.63% and a net margin of 1.80%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the company earned $0.11 EPS. The company’s revenue for the quarter was up 46.9% on a year-over-year basis.
A number of equities research analysts recently weighed in on the company. StockNews.com assumed coverage on Canadian Solar in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research upgraded Canadian Solar from a “sell” rating to a “hold” rating and set a $35.00 price target on the stock in a research note on Wednesday, March 2nd. JPMorgan Chase & Co. dropped their price target on Canadian Solar from $41.00 to $39.00 in a research note on Friday, March 18th. Finally, Citigroup increased their price target on Canadian Solar from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, March 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Canadian Solar currently has a consensus rating of “Hold” and a consensus target price of $40.86.
CSIQ opened at $26.70 on Wednesday. Canadian Solar has a 1-year low of $22.15 and a 1-year high of $48.35. The stock’s fifty day simple moving average is $31.74 and its 200 day simple moving average is $31.91. 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 stock has a market cap of $1.60 billion, a PE ratio of 18.41 and a beta of 1.47.
A number of hedge funds have recently bought and sold shares of CSIQ. Schroder Investment Management Group grew its holdings 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 in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Canadian Solar by 38.1% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,516,443 shares of the solar energy provider’s stock worth $87,044,000 after purchasing an additional 693,810 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Canadian Solar by 22.5% during the 4th quarter. …….