Wall Street brokerages expect that Canadian Solar Inc. (NASDAQ:CSIQ) will report sales of $470.77 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Canadian Solar’s earnings. The highest sales estimate is $475.00 million and the lowest is $465.90 million. Canadian Solar reported sales of $1.42 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 66.8%. The firm is expected to report its next earnings report on Wednesday, May 15th.

According to Zacks, analysts expect that Canadian Solar will report full-year sales of $3.58 billion for the current year, with estimates ranging from $3.45 billion to $3.69 billion. For the next fiscal year, analysts anticipate that the company will post sales of $3.99 billion, with estimates ranging from $3.69 billion to $4.26 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, March 21st. The solar energy provider reported $1.61 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.74. The company had revenue of $901.00 million for the quarter, compared to the consensus estimate of $872.02 million. Canadian Solar had a return on equity of 18.40% and a net margin of 6.33%. Canadian Solar’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share.

A number of analysts have commented on the company. Zacks Investment Research downgraded Canadian Solar from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. ValuEngine downgraded Canadian Solar from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. assumed coverage on Canadian Solar in a research report on Thursday, April 11th. They set a “neutral” rating and a $22.00 target price on the stock. Standpoint Research downgraded Canadian Solar from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Finally, Cascend Securities upgraded Canadian Solar from a “hold” rating to a “buy” rating and upped their price objective for the company from $21.00 to $27.00 in a research report on Wednesday, February 20th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Canadian Solar currently has a consensus rating of “Buy” and an average target price of $21.50.

CSIQ traded up $0.68 during trading on Tuesday, reaching $20.26. 1,496,280 shares of the stock were exchanged, compared to its average volume of 929,108. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.95 and a current ratio of 1.04. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 6.18, a PEG ratio of 0.25 and a beta of 2.44. Canadian Solar has a 1 year low of $11.37 and a 1 year high of $25.89.

Several large investors have recently modified their holdings of the company. Financial Gravity Wealth Inc. acquired a new position in Canadian Solar in the first quarter valued at $26,000. Eqis Capital Management Inc. increased its stake in Canadian Solar by 11.8% in the first quarter. Eqis Capital Management Inc. now owns 47,492 shares of the solar energy provider’s stock valued at $885,000 after purchasing an additional 5,020 shares during the last quarter. Deutsche Bank AG increased its stake in Canadian Solar by 526.9% in the fourth quarter. Deutsche Bank AG now owns 13,691 shares of the solar energy provider’s stock valued at $196,000 after purchasing an additional 11,507 shares during the last quarter. Norges Bank acquired a new position in Canadian Solar in the fourth quarter valued at $17,966,000. Finally, Nordea Investment Management AB acquired a new position in Canadian Solar in the fourth quarter valued at $149,000. Institutional investors and hedge funds own 39.80% 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 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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