Wall Street analysts forecast that Canadian Solar Inc. (NASDAQ:CSIQ) will post sales of $470.45 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued 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 in the same quarter last year, which would suggest a negative year-over-year growth rate of 66.9%. The company is expected to announce its next quarterly earnings results on Wednesday, May 15th.

On average, analysts expect that Canadian Solar will report full-year sales of $3.64 billion for the current year, with estimates ranging from $3.60 billion to $3.69 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $4.13 billion, with estimates ranging from $4.01 billion to $4.26 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Canadian Solar.

Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Thursday, March 21st. The solar energy provider reported $1.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.74. Canadian Solar had a net margin of 6.33% and a return on equity of 18.40%. The firm had revenue of $901.00 million for the quarter, compared to analysts’ expectations of $872.02 million. During the same quarter in the previous year, the business posted $1.01 EPS. The company’s quarterly revenue was down 18.7% on a year-over-year basis.

CSIQ has been the topic of a number of analyst reports. Standpoint Research cut shares of Canadian Solar from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. ValuEngine upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating in a research note on Saturday, February 23rd. Cascend Securities upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and upped their price target for the stock from $21.00 to $27.00 in a research note on Wednesday, February 20th. UBS Group upgraded shares of Canadian Solar from a “sell” rating to a “neutral” rating and set a $23.00 price target on the stock in a research note on Monday, February 11th. Finally, Zacks Investment Research upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Canadian Solar currently has an average rating of “Buy” and a consensus price target of $21.50.

Large investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new position in Canadian Solar in the 3rd quarter worth about $49,000. Quantamental Technologies LLC purchased a new position in Canadian Solar in the 4th quarter worth about $66,000. Tower Research Capital LLC TRC purchased a new position in Canadian Solar in the 3rd quarter worth about $105,000. Macquarie Group Ltd. purchased a new position in Canadian Solar in the 4th quarter worth about $118,000. Finally, We Are One Seven LLC purchased a new position in Canadian Solar in the 4th quarter worth about $120,000. 39.80% of the stock is owned by institutional investors and hedge funds.

Shares of CSIQ stock opened at $18.83 on Tuesday. Canadian Solar has a 12 month low of $11.37 and a 12 month high of $25.89. The firm has a market cap of $1.10 billion, a PE ratio of 5.74, a price-to-earnings-growth ratio of 0.23 and a beta of 2.44. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.31.

About Canadian Solar

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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