Wall Street analysts expect that Canadian Solar Inc. (NASDAQ:CSIQ) will post ($0.16) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Canadian Solar’s earnings, with the highest EPS estimate coming in at ($0.10) and the lowest estimate coming in at ($0.21). Canadian Solar reported earnings of $0.68 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 123.5%. The business is expected to report its next earnings report on Thursday, August 17th.

According to Zacks, analysts expect that Canadian Solar will report full-year earnings of $1.41 per share for the current year, with EPS estimates ranging from $1.25 to $1.57. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.79 per share, with EPS estimates ranging from $1.25 to $2.66. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Tuesday, June 6th. The solar energy provider reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.14. The business had revenue of $677 million for the quarter, compared to the consensus estimate of $580.45 million. Canadian Solar had a net margin of 1.04% and a return on equity of 7.12%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS.

Several equities analysts have recently weighed in on CSIQ shares. BidaskClub downgraded Canadian Solar from a “buy” rating to a “hold” rating in a research report on Tuesday. Axiom Securities reaffirmed a “buy” rating on shares of Canadian Solar in a research report on Saturday, July 22nd. Cowen and Company upped their price objective on Canadian Solar from $10.00 to $13.00 and gave the company a “market perform” rating in a research report on Wednesday, June 7th. ValuEngine downgraded Canadian Solar from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $31.00 price target on shares of Canadian Solar in a research report on Thursday, April 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.20.

A number of hedge funds have recently made changes to their positions in CSIQ. Global X Management Co. LLC increased its stake in Canadian Solar by 7.5% in the first quarter. Global X Management Co. LLC now owns 22,345 shares of the solar energy provider’s stock valued at $274,000 after buying an additional 1,562 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Canadian Solar by 4.5% in the first quarter. BNP Paribas Arbitrage SA now owns 39,792 shares of the solar energy provider’s stock valued at $488,000 after buying an additional 1,700 shares in the last quarter. California Public Employees Retirement System increased its stake in Canadian Solar by 2.1% in the first quarter. California Public Employees Retirement System now owns 143,600 shares of the solar energy provider’s stock valued at $1,762,000 after buying an additional 2,900 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Canadian Solar by 20.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,614 shares of the solar energy provider’s stock valued at $228,000 after buying an additional 3,100 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new stake in Canadian Solar during the first quarter valued at approximately $189,000. 35.37% of the stock is owned by institutional investors.

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Canadian Solar (NASDAQ CSIQ) traded down 1.27% during mid-day trading on Thursday, hitting $16.34. 944,530 shares of the stock traded hands. The firm’s 50-day moving average is $15.24 and its 200 day moving average is $13.59. The firm has a market cap of $944.97 million, a P/E ratio of 32.49 and a beta of 3.08. Canadian Solar has a 52-week low of $10.25 and a 52-week high of $18.12.

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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Earnings History and Estimates for Canadian Solar (NASDAQ:CSIQ)

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