Canadian Solar Inc. (CSIQ) Expected to Post Quarterly Sales of $715.14 Million

Equities research analysts expect Canadian Solar Inc. (NASDAQ:CSIQ) to post $715.14 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Canadian Solar’s earnings. The highest sales estimate is $722.60 million and the lowest is $708.00 million. Canadian Solar reported sales of $692.37 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.3{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974}. The company is expected to issue its next quarterly earnings results before the market opens on Tuesday, August 14th.

On average, analysts expect that Canadian Solar will report full-year sales of $4.48 billion for the current financial year, with estimates ranging from $4.39 billion to $4.53 billion. For the next year, analysts expect that the firm will report sales of $4.19 billion per share, with estimates ranging from $3.70 billion to $4.59 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Wednesday, May 16th. The solar energy provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.34. Canadian Solar had a return on equity of 10.51{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974} and a net margin of 3.78{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974}. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the business earned ($0.23) EPS. Canadian Solar’s revenue for the quarter was up 110.5{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974} compared to the same quarter last year.

A number of research firms recently issued reports on CSIQ. BidaskClub raised Canadian Solar from a “hold” rating to a “buy” rating in a research note on Friday. ValuEngine cut Canadian Solar from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. B. Riley set a $18.00 target price on Canadian Solar and gave the stock a “hold” rating in a research note on Thursday, May 17th. JPMorgan Chase & Co. raised Canadian Solar from an “underweight” rating to a “neutral” rating and reduced their price target for the stock from $17.00 to $15.00 in a research report on Thursday, June 7th. Finally, Zacks Investment Research downgraded Canadian Solar from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Canadian Solar presently has an average rating of “Hold” and an average target price of $17.67.

Canadian Solar opened at $13.72 on Friday, according to Marketbeat. Canadian Solar has a 52-week low of $11.37 and a 52-week high of $19.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.94 and a quick ratio of 0.83. The company has a market cap of $797.54 million, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 0.27 and a beta of 2.47.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSIQ. Deutsche Bank AG boosted its holdings in shares of Canadian Solar by 17.1{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974} in the 4th quarter. Deutsche Bank AG now owns 339,155 shares of the solar energy provider’s stock valued at $5,717,000 after buying an additional 49,440 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Canadian Solar by 51.6{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974} in the 4th quarter. Two Sigma Advisers LP now owns 22,902 shares of the solar energy provider’s stock valued at $386,000 after buying an additional 7,800 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Canadian Solar in the 1st quarter valued at approximately $646,000. SG Americas Securities LLC boosted its holdings in shares of Canadian Solar by 41.0{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974} in the 1st quarter. SG Americas Securities LLC now owns 69,136 shares of the solar energy provider’s stock valued at $1,125,000 after buying an additional 20,112 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Canadian Solar in the 1st quarter valued at approximately $318,000. 36.34{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974} of the stock is owned by institutional investors.

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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