Canadian Solar (NASDAQ:CSIQ – Get Rating) posted its earnings results on Tuesday. The solar energy provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.31, MarketWatch Earnings reports. Canadian Solar had a return on equity of 3.63% and a net margin of 1.80%. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. Canadian Solar updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.
NASDAQ:CSIQ opened at $29.19 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.18 and a quick ratio of 0.89. The business has a fifty day simple moving average of $31.34 and a two-hundred day simple moving average of $31.52. Canadian Solar has a 1 year low of $22.15 and a 1 year high of $48.35. The company has a market capitalization of $1.75 billion, a P/E ratio of 20.13 and a beta of 1.47.
A number of research analysts have recently weighed in on CSIQ shares. Citigroup raised their target price on Canadian Solar from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, March 28th. Zacks Investment Research raised Canadian Solar from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a research report 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. Finally, StockNews.com began coverage on Canadian Solar in a research report on Thursday, March 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Canadian Solar presently has a consensus rating of “Hold” and an average price target of $38.00.
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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