Equities research analysts predict that Canadian Solar Inc. (NASDAQ:CSIQ) will announce $579.59 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Canadian Solar’s earnings, with the lowest sales estimate coming in at $574 million and the highest estimate coming in at $588.1 million. Canadian Solar reported sales of $721.42 million in the same quarter last year, which suggests a negative year-over-year growth rate of 19.7%. The firm is expected to report its next quarterly earnings results before the market opens on Tuesday, June 6th.

According to Zacks, analysts expect that Canadian Solar will report full year sales of $579.59 million for the current financial year, with estimates ranging from $3.76 billion to $4.43 billion. For the next financial year, analysts expect that the company will post sales of $3.58 billion per share, with estimates ranging from $3.25 billion to $3.93 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Tuesday, March 21st. The solar energy provider reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.08. Canadian Solar had a return on equity of 15.60% and a net margin of 4.26%. The firm had revenue of $668.40 million for the quarter, compared to the consensus estimate of $698.57 million. During the same period in the prior year, the business earned $1.05 EPS. Canadian Solar’s quarterly revenue was down 40.3% compared to the same quarter last year.

A number of equities research analysts have recently commented on CSIQ shares. Zacks Investment Research upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Tuesday, January 24th. JPMorgan Chase & Co. cut shares of Canadian Solar from an “overweight” rating to a “neutral” rating and increased their price target for the company from $15.36 to $16.00 in a report on Wednesday, February 22nd. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $31.00 price target on shares of Canadian Solar in a report on Thursday, April 20th. FBR & Co reiterated a “mkt perform” rating and set a $13.00 price target (up previously from $12.00) on shares of Canadian Solar in a report on Wednesday, March 22nd. Finally, Roth Capital set a $12.00 target price on shares of Canadian Solar and gave the stock a “hold” rating in a report on Wednesday, March 22nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Canadian Solar presently has an average rating of “Hold” and an average target price of $17.49.

A number of large investors have recently modified their holdings of the company. Menora Mivtachim Holdings LTD. acquired a new position in Canadian Solar during the fourth quarter valued at $112,000. Raymond James Financial Services Advisors Inc. increased its position in Canadian Solar by 27.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,514 shares of the solar energy provider’s stock valued at $189,000 after buying an additional 3,350 shares during the last quarter. Wedbush Securities Inc. acquired a new position in Canadian Solar during the first quarter valued at $189,000. State Street Corp increased its position in Canadian Solar by 7.4% in the fourth quarter. State Street Corp now owns 18,931 shares of the solar energy provider’s stock valued at $230,000 after buying an additional 1,307 shares during the last quarter. Finally, Trellus Management Company LLC acquired a new position in Canadian Solar during the first quarter valued at $245,000. Institutional investors own 36.88% of the company’s stock.

Canadian Solar (NASDAQ:CSIQ) opened at 13.11 on Friday. Canadian Solar has a 52-week low of $10.25 and a 52-week high of $19.65. The firm’s 50 day moving average is $12.89 and its 200 day moving average is $12.85. The company has a market cap of $758.18 million, a PE ratio of 11.71 and a beta of 2.78.

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Canadian Solar Company Profile

Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.

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