Canadian Solar (CSIQ) Releases Quarterly Earnings, Beats Expectations By $0.37 EPS
Canadian Solar (NASDAQ:CSIQ) issued its quarterly earnings data on Wednesday. The company reported $0.95 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.58 by $0.37, Analyst RN reports. The company had revenue of $623.80 million for the quarter, compared to the consensus estimate of $577.65 million.
CSIQ has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of Canadian Solar from $41.00 to $43.50 in a research note on Tuesday, July 15th. They now have an “overweight” rating on the stock. On a related note, analysts at FBR Capital Markets upgraded shares of Canadian Solar from a “market perform” rating to an “outperform” rating in a research note on Monday, July 7th. They now have a $40.00 price target on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Canadian Solar in a research note on Wednesday, July 2nd. They set a “buy” rating and a $43.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Canadian Solar presently has a consensus rating of “Buy” and an average price target of $42.31.
Canadian Solar (NASDAQ:CSIQ) opened at 24.97 on Wednesday. Canadian Solar has a 1-year low of $10.55 and a 1-year high of $44.50. The stock’s 50-day moving average is $27.73 and its 200-day moving average is $30.36. The company has a market cap of $1.314 billion and a price-to-earnings ratio of 34.96.
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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