Canadian Solar (NASDAQ:CSIQ) posted its quarterly earnings data on Thursday. The solar energy provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.59, RTT News reports. Canadian Solar had a return on equity of 12.91% and a net margin of 6.77%. The company had revenue of $920.00 million during the quarter, compared to analysts’ expectations of $866.05 million. During the same period last year, the firm earned $1.81 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Canadian Solar updated its FY 2020
Pre-Market guidance to EPS and its Q1 2020
Pre-Market guidance to EPS.
Canadian Solar stock traded down $1.06 during midday trading on Friday, reaching $16.36. The stock had a trading volume of 13,972 shares, compared to its average volume of 1,126,170. Canadian Solar has a twelve month low of $12.00 and a twelve month high of $25.35. The stock has a market capitalization of $918.30 million, a PE ratio of 4.65, a price-to-earnings-growth ratio of 0.14 and a beta of 1.64. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 1.09. The stock’s 50-day simple moving average is $19.76 and its 200 day simple moving average is $19.57.
Canadian Solar declared that its Board of Directors has authorized a share buyback plan on Monday, December 9th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the solar energy provider to reacquire up to 13% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded Canadian Solar from a “hold” rating to a “strong sell” rating and set a $24.00 price objective for the company. in a research note on Tuesday, January 14th. ValuEngine downgraded Canadian Solar from a “hold” rating to a “sell” rating in a research report on Wednesday. Goldman Sachs Group raised Canadian Solar from a “neutral” rating to a “buy” rating in a research report on Friday, January 3rd. BidaskClub raised Canadian Solar from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Roth Capital reissued a “buy” rating and set a $32.00 price target on shares of Canadian Solar in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $27.75.
Canadian Solar Company Profile
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.
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