Canadian Solar Inc. (CSIQ) Set to Announce Earnings on Thursday
Canadian Solar Inc. (NASDAQ:CSIQ) is scheduled to be releasing its earnings data before the market opens on Thursday, November 9th. Analysts expect Canadian Solar to post earnings of $0.26 per share for the quarter.
Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Monday, August 14th. The solar energy provider reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.01. Canadian Solar had a return on equity of 1.71% and a net margin of 1.01%. The business had revenue of $692.37 million for the quarter, compared to the consensus estimate of $631.05 million. During the same quarter last year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was down 14.1% on a year-over-year basis. On average, analysts expect Canadian Solar to post $1.11 EPS for the current fiscal year and $1.86 EPS for the next fiscal year.
A hedge fund recently raised its stake in Canadian Solar stock. State Street Corp raised its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,698 shares of the solar energy provider’s stock after purchasing an additional 1,227 shares during the quarter. State Street Corp’s holdings in Canadian Solar were worth $345,000 as of its most recent SEC filing. Institutional investors own 39.51% of the company’s stock.
CSIQ has been the subject of several research reports. Axiom Securities reissued a “buy” rating on shares of Canadian Solar in a report on Saturday, July 22nd. Zacks Investment Research downgraded shares of Canadian Solar from a “strong-buy” rating to a “hold” rating in a report on Monday, August 28th. Vetr raised shares of Canadian Solar from a “buy” rating to a “strong-buy” rating and set a $19.06 price objective for the company in a report on Thursday, August 10th. Cowen and Company reissued a “hold” rating and set a $17.00 price objective on shares of Canadian Solar in a report on Sunday, October 22nd. Finally, BidaskClub downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $17.51.
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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