Canadian Solar Inc. (NASDAQ: CSIQ) is expected to post quarterly sales of $ 1.32 billion
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Wall Street analysts predict that Canadian Solar Inc. (NASDAQ: CSIQ) will report sales of $ 1.32 billion for the current quarter, Zack reports. Three analysts provided earnings estimates for Canadian Solar. The highest sales estimate is $ 1.34 billion and the lowest is $ 1.31 billion. Canadian Solar posted sales of $ 914.36 million in the same quarter last year, suggesting a positive growth rate of 44.4% year-over-year. The company is expected to announce its next quarterly earnings report before the market opens on Thursday, November 18.
According to Zacks, analysts expect Canadian Solar to have annual sales of $ 5.79 billion for the current fiscal year, with estimates ranging from $ 5.73 billion to $ 5.84 billion. For the next fiscal year, analysts predict the company will post revenue of $ 6.43 billion, with estimates ranging from $ 6.24 billion to $ 6.60 billion. Zacks Investment Research sales averages are an average based on a survey of analysts who provide coverage for Canadian Solar.
Several equity research analysts have published reports on CSIQ stocks. Citigroup lowered its price target for Canadian Solar shares from $ 57.00 to $ 51.00 and set a “buy†rating for the company in a research note on Monday, October 4. The UBS Group downgraded Canadian Solar’s stock rating from a “buy†rating to a “sell†rating and set a price target of $ 18.00 for the company. in a research note on Wednesday August 18. Finally, JPMorgan Chase & Co. raised its price target for Canadian Solar shares from $ 49 to $ 51.00 and rated the stock “neutral” in a research note on Wednesday, July 21. Two equity research analysts rated the stock with a sell rating, two issued a conservation rating, and six issued a buy rating for the company’s stock. According to MarketBeat.com, Canadian Solar currently has a consensus rating of “Hold” and a consensus price target of $ 48.10.
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A number of hedge funds and other institutional investors have recently bought and sold shares of CSIQ. Schroder Investment Management Group increased its stake in Canadian Solar by 612.4% during the 3rd quarter. Schroder Investment Management Group now owns 1,923,447 shares of the solar power supplier valued at $ 66,532,000 after acquiring an additional 1,653,447 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Canadian Solar by 73.7% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,822,633 shares of the solar power supplier valued at $ 81,727,000 after acquiring an additional 773,429 shares during the last quarter. Mackenzie Financial Corporation increased its stake in Canadian Solar by 81.4% during the second quarter. Mackenzie Financial Corp now owns 1,664,886 shares of the solar energy supplier valued at $ 74,653,000 after acquiring an additional 746,850 shares in the last quarter. Albar Capital Ltd purchased a new position in Canadian Solar during the 2nd quarter valued at $ 27,801,000. Finally, Kylin Management LLC purchased a new position in Canadian Solar during the second quarter for a value of $ 27,801,000. Hedge funds and other institutional investors hold 53.19% of the company’s shares.
Actions of CSIQ actions open for $ 39.57 Tuesday. Canadian Solar has a one-year minimum of $ 31.40 and a one-year maximum of $ 67.39. The company has a debt ratio of 0.38, a quick ratio of 0.84, and a current ratio of 1.13. The company has a 50-day moving average price of $ 36.68 and a 200-day moving average price of $ 38.26. The company has a market cap of $ 2.37 billion, a price / earnings ratio of 49.46, a price / earnings / growth ratio of 1.80, and a beta of 1.47.
About Canadian Solar
Canadian Solar, Inc engages in the manufacture of photovoltaic solar modules and provides solar energy solutions. It operates through the Modules and Systems (MSS) and Energy segments. The MSS segment includes the design, development, manufacture and sale of solar energy products and solar system kits, as well as operation and maintenance services.
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