Brokerages expect Canadian Solar Inc. (NASDAQ:CSIQ) to post $470.77 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Canadian Solar’s earnings. The highest sales estimate is $475.00 million and the lowest is $465.90 million. Canadian Solar reported sales of $1.42 billion during the same quarter last year, which would suggest a negative year-over-year growth rate of 66.8%. The business is scheduled to issue its next quarterly earnings report on Wednesday, May 15th.

According to Zacks, analysts expect that Canadian Solar will report full-year sales of $3.58 billion for the current financial year, with estimates ranging from $3.45 billion to $3.69 billion. For the next fiscal year, analysts expect that the business will post sales of $3.99 billion, with estimates ranging from $3.69 billion to $4.26 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Thursday, March 21st. The solar energy provider reported $1.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.74. The business had revenue of $901.00 million during the quarter, compared to analysts’ expectations of $872.02 million. Canadian Solar had a return on equity of 18.40% and a net margin of 6.33%. Canadian Solar’s revenue was down 18.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share.

Several brokerages have recently commented on CSIQ. ValuEngine cut Canadian Solar from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Zacks Investment Research cut Canadian Solar from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. BidaskClub cut Canadian Solar from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 27th. JPMorgan Chase & Co. initiated coverage on Canadian Solar in a research report on Thursday, April 11th. They set a “neutral” rating and a $22.00 price objective for the company. Finally, Standpoint Research cut Canadian Solar from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $21.50.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Gravity Wealth Inc. acquired a new stake in Canadian Solar during the first quarter valued at $26,000. Eqis Capital Management Inc. raised its holdings in Canadian Solar by 11.8% during the first quarter. Eqis Capital Management Inc. now owns 47,492 shares of the solar energy provider’s stock valued at $885,000 after buying an additional 5,020 shares in the last quarter. Deutsche Bank AG raised its holdings in Canadian Solar by 526.9% during the fourth quarter. Deutsche Bank AG now owns 13,691 shares of the solar energy provider’s stock valued at $196,000 after buying an additional 11,507 shares in the last quarter. Norges Bank bought a new position in Canadian Solar during the fourth quarter valued at about $17,966,000. Finally, Nordea Investment Management AB bought a new position in Canadian Solar during the fourth quarter valued at about $149,000. 39.80% of the stock is owned by hedge funds and other institutional investors.

Shares of Canadian Solar stock traded up $0.68 during midday trading on Tuesday, hitting $20.26. The company’s stock had a trading volume of 1,496,280 shares, compared to its average volume of 929,108. The stock has a market cap of $1.13 billion, a PE ratio of 6.18, a price-to-earnings-growth ratio of 0.25 and a beta of 2.44. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 0.31. Canadian Solar has a 1-year low of $11.37 and a 1-year high of $25.89.

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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