$0.46 EPS Expected for Canadian Solar Inc. (CSIQ) This Quarter

Wall Street brokerages expect Canadian Solar Inc. (NASDAQ:CSIQ) to post earnings per share (EPS) of $0.46 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Canadian Solar’s earnings, with the highest EPS estimate coming in at $0.53 and the lowest estimate coming in at $0.40. Canadian Solar posted earnings per share of $0.22 during the same quarter last year, which would indicate a positive year-over-year growth rate of 109.1%. The company is scheduled to announce its next quarterly earnings results before the market opens on Thursday, November 15th.

According to Zacks, analysts expect that Canadian Solar will report full-year earnings of $1.73 per share for the current financial year, with EPS estimates ranging from $1.21 to $1.97. For the next financial year, analysts expect that the company will post earnings of $1.82 per share, with EPS estimates ranging from $1.52 to $2.18. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Tuesday, August 14th. The solar energy provider reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.01). Canadian Solar had a net margin of 3.26% and a return on equity of 12.44%. The company had revenue of $650.10 million for the quarter, compared to the consensus estimate of $711.53 million. During the same period in the prior year, the company earned $0.63 earnings per share. The firm’s revenue was down 6.1% on a year-over-year basis.

CSIQ has been the topic of a number of recent research reports. BidaskClub upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Thursday, August 16th. ValuEngine upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Finally, B. Riley set a $18.00 price target on shares of Canadian Solar and gave the company a “hold” rating in a research note on Wednesday, August 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Canadian Solar has a consensus rating of “Hold” and a consensus price target of $17.67.

Hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP lifted its stake in Canadian Solar by 9.3% in the 2nd quarter. First Trust Advisors LP now owns 60,417 shares of the solar energy provider’s stock worth $740,000 after purchasing an additional 5,142 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Canadian Solar by 8.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 78,173 shares of the solar energy provider’s stock worth $957,000 after purchasing an additional 5,890 shares in the last quarter. Guinness Asset Management Ltd lifted its stake in Canadian Solar by 30.0% in the 2nd quarter. Guinness Asset Management Ltd now owns 30,800 shares of the solar energy provider’s stock worth $377,000 after purchasing an additional 7,100 shares in the last quarter. Sei Investments Co. lifted its stake in Canadian Solar by 467.8% in the 2nd quarter. Sei Investments Co. now owns 11,549 shares of the solar energy provider’s stock worth $141,000 after purchasing an additional 9,515 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Canadian Solar in the 3rd quarter worth approximately $161,000. Institutional investors own 36.51% of the company’s stock.

Canadian Solar stock opened at $13.78 on Friday. The company has a market cap of $846.85 million, a PE ratio of 13.25, a P/E/G ratio of 0.33 and a beta of 1.83. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.20. Canadian Solar has a twelve month low of $11.37 and a twelve month high of $18.95.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

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