Canadian Solar Inc. (CSIQ) to Release Quarterly Earnings on Monday
Canadian Solar Inc. (NASDAQ:CSIQ) is scheduled to be issuing its quarterly earnings data on Monday, November 21st. Parties interested in participating in the company’s conference call can do so using this link.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings data on Thursday, August 18th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.31. Canadian Solar had a net margin of 4.45% and a return on equity of 19.73%. The company earned $805.90 million during the quarter, compared to analyst estimates of $735.82 million. During the same quarter last year, the firm posted $0.31 EPS. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, analysts expect Canadian Solar to post $1.59 EPS for the current fiscal year and $1.93 EPS for the next fiscal year.
Canadian Solar Inc. (NASDAQ:CSIQ) opened at 11.68 on Friday. Canadian Solar Inc. has a 52-week low of $10.25 and a 52-week high of $29.83. The stock’s 50 day moving average is $13.96 and its 200 day moving average is $14.75. The company has a market cap of $672.83 million, a price-to-earnings ratio of 4.43 and a beta of 3.19.
Several brokerages have recently commented on CSIQ. Zacks Investment Research downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a research note on Thursday, November 3rd. Cowen and Company began coverage on shares of Canadian Solar in a research note on Thursday, August 25th. They issued an “outperform” rating and a $28.50 target price on the stock. Barclays PLC downgraded shares of Canadian Solar from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $24.00 to $14.00 in a research note on Wednesday, August 24th. Standpoint Research restated a “buy” rating and issued a $18.00 target price on shares of Canadian Solar in a research note on Tuesday, September 6th. Finally, Morgan Stanley downgraded shares of Canadian Solar from an “overweight” rating to an “underweight” rating and reduced their target price for the company from $24.00 to $12.80 in a research note on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $22.82.
Hedge funds have recently made changes to their positions in the company. Key Group Holdings Cayman LTD. boosted its stake in shares of Canadian Solar by 214.5% in the second quarter. Key Group Holdings Cayman LTD. now owns 710,554 shares of the company’s stock valued at $10,744,000 after buying an additional 484,619 shares in the last quarter. Cipher Capital LP raised its position in Canadian Solar by 351.0% in the second quarter. Cipher Capital LP now owns 302,356 shares of the company’s stock valued at $4,572,000 after buying an additional 235,316 shares during the last quarter. Guggenheim Capital LLC raised its position in Canadian Solar by 16.7% in the second quarter. Guggenheim Capital LLC now owns 699,586 shares of the company’s stock valued at $10,577,000 after buying an additional 100,133 shares during the last quarter. Robecosam AG raised its position in Canadian Solar by 19.7% in the second quarter. Robecosam AG now owns 455,000 shares of the company’s stock valued at $6,770,000 after buying an additional 74,860 shares during the last quarter. Finally, Clinton Group Inc. bought a new position in Canadian Solar during the second quarter valued at about $916,000. 37.11% of the stock is owned by hedge funds and other institutional investors.
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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