Equities research analysts predict that Canadian Solar Inc. (NASDAQ:CSIQ) will post sales of $470.45 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Canadian Solar’s earnings, with the lowest sales estimate coming in at $465.90 million and the highest estimate coming in at $475.00 million. Canadian Solar reported sales of $1.42 billion in the same quarter last year, which indicates a negative year over year growth rate of 66.9%. The business is expected to announce its next earnings report on Wednesday, May 15th.
On average, analysts expect that Canadian Solar will report full year sales of $3.64 billion for the current year, with estimates ranging from $3.60 billion to $3.69 billion. For the next fiscal year, analysts anticipate that the business will post sales of $4.13 billion, with estimates ranging from $4.01 billion to $4.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Canadian Solar.
Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data 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 analysts’ expectations of $872.02 million. Canadian Solar had a return on equity of 18.40% and a net margin of 6.33%. The firm’s quarterly revenue was down 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share.
Shares of CSIQ opened at $18.83 on Tuesday. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 5.74, a P/E/G ratio of 0.23 and a beta of 2.44. 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 quick ratio of 0.95 and a current ratio of 1.04.
Several hedge funds and other institutional investors have recently made changes to their positions in CSIQ. Legal & General Group Plc bought a new stake in Canadian Solar in the third quarter valued at about $49,000. Quantamental Technologies LLC bought a new stake in Canadian Solar in the fourth quarter valued at about $66,000. Tower Research Capital LLC TRC bought a new stake in Canadian Solar in the third quarter valued at about $105,000. Macquarie Group Ltd. bought a new stake in Canadian Solar in the fourth quarter valued at about $118,000. Finally, We Are One Seven LLC bought a new stake in Canadian Solar in the fourth quarter valued at about $120,000. 39.80% of the stock is currently owned by institutional investors and hedge funds.
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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