Canadian Solar (CSIQ) Announces Quarterly Earnings, Misses Expectations By $0.05 EPS
Canadian Solar (NASDAQ:CSIQ) issued its quarterly earnings data on Friday. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.05, AmericanBankingNews.com reports. The company had revenue of $466.30 million for the quarter, compared to the consensus estimate of $431.98 million. During the same quarter in the previous year, the company posted ($0.10) earnings per share.
Shares of Canadian Solar (NASDAQ:CSIQ) opened at 25.32 on Friday. Canadian Solar has a 52 week low of $7.00 and a 52 week high of $44.50. The stock has a 50-day moving average of $28.32 and a 200-day moving average of $32.47. The company has a market cap of $1.387 billion and a price-to-earnings ratio of 42.75.
A number of research firms have recently commented on CSIQ. Analysts at Dougherty & Co initiated coverage on shares of Canadian Solar in a research note on Tuesday, March 11th. They set a “buy” rating on the stock. On the ratings front, analysts at Goldman Sachs initiated coverage on shares of Canadian Solar in a research note on Friday, March 7th. They set a “neutral” rating on the stock. Finally, analysts at Northland Securities raised their price target on shares of Canadian Solar from $40.00 to $51.00 in a research note on Tuesday, March 4th. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Canadian Solar currently has a consensus rating of “Buy” and a consensus target price of $38.63.
Canadian Solar Inc (NASDAQ:CSIQ) designs, develops, and manufactures solar wafers, cells and solar module products that convert sunlight into electricity for a variety of uses.
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