Analysts Expect Canadian Solar Inc. (CSIQ) to Post -$0.44 EPS

Brokerages expect that Canadian Solar Inc. (NASDAQ:CSIQ) will announce earnings of ($0.44) per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Canadian Solar’s earnings. The highest EPS estimate is ($0.32) and the lowest is ($0.62). Canadian Solar posted earnings of $0.72 per share during the same quarter last year, which would indicate a negative year over year growth rate of 161.1%. The company is scheduled to issue its next quarterly earnings report on Wednesday, May 15th.

On average, analysts expect that Canadian Solar will report full year earnings of $2.40 per share for the current year, with EPS estimates ranging from $2.11 to $2.87. For the next year, analysts expect that the business will post earnings of $2.77 per share, with EPS estimates ranging from $2.21 to $3.30. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Thursday, March 21st. The solar energy provider reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.74. The company had revenue of $901.00 million during the quarter, compared to analyst estimates of $872.02 million. Canadian Solar had a net margin of 6.33% and a return on equity of 18.40%. The company’s revenue for the quarter was down 18.7% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS.

CSIQ has been the subject of a number of research reports. ValuEngine raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. BidaskClub raised shares of Canadian Solar from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 11th. UBS Group raised shares of Canadian Solar from a “sell” rating to a “neutral” rating and set a $23.00 target price for the company in a research note on Monday, February 11th. Cascend Securities raised shares of Canadian Solar from a “hold” rating to a “buy” rating and lifted their target price for the company from $21.00 to $27.00 in a research note on Wednesday, February 20th. Finally, Standpoint Research lowered shares of Canadian Solar from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Canadian Solar presently has a consensus rating of “Buy” and a consensus price target of $21.50.

Several hedge funds have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Canadian Solar by 27.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,453,151 shares of the solar energy provider’s stock valued at $27,072,000 after purchasing an additional 310,619 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Canadian Solar by 25.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 32,038 shares of the solar energy provider’s stock valued at $597,000 after purchasing an additional 6,430 shares during the last quarter. New York State Common Retirement Fund acquired a new stake in shares of Canadian Solar in the 1st quarter valued at $120,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Canadian Solar by 64.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,868 shares of the solar energy provider’s stock valued at $575,000 after purchasing an additional 12,100 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Canadian Solar in the 1st quarter valued at $1,016,000. 38.93% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:CSIQ opened at $19.66 on Monday. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 5.99, a P/E/G ratio of 0.28 and a beta of 2.43. Canadian Solar has a 12-month low of $11.37 and a 12-month high of $25.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.04 and a quick ratio of 0.95.

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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