Canadian Solar Inc. (CSIQ) Issues Earnings Results, Meets Expectations

Canadian Solar Inc. (NASDAQ:CSIQ) announced its quarterly earnings data on Thursday. The solar energy provider reported $0.22 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.22, Briefing.com reports. The firm had revenue of $912.20 million during the quarter, compared to the consensus estimate of $812.37 million. Canadian Solar had a net margin of 1.01% and a return on equity of 1.71%. The firm’s revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share.

Shares of Canadian Solar (NASDAQ:CSIQ) opened at $16.84 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.88 and a current ratio of 0.95. Canadian Solar has a 12-month low of $10.36 and a 12-month high of $19.09. The stock has a market cap of $1,094.52, a P/E ratio of 67.39, a PEG ratio of 0.92 and a beta of 3.12.

A number of equities research analysts recently commented on CSIQ shares. Axiom Securities restated a “buy” rating on shares of Canadian Solar in a research report on Saturday, July 22nd. BidaskClub downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Vetr upgraded shares of Canadian Solar from a “buy” rating to a “strong-buy” rating and set a $19.06 price objective for the company in a research report on Thursday, August 10th. Finally, Cowen and Company set a $16.00 price objective on shares of Canadian Solar and gave the company a “hold” rating in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $17.51.

TRADEMARK VIOLATION NOTICE: “Canadian Solar Inc. (CSIQ) Issues Earnings Results, Meets Expectations” was first published by TrueBlueTribune and is the property of of TrueBlueTribune. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. & international copyright law. The original version of this article can be viewed at https://www.truebluetribune.com/2017/11/10/canadian-solar-inc-csiq-issues-earnings-results-meets-expectations.html.

A hedge fund recently raised its stake in Canadian Solar stock. Northern Trust Corp increased its stake in shares of Canadian Solar Inc. (NASDAQ:CSIQ) by 11.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,588 shares of the solar energy provider’s stock after purchasing an additional 3,198 shares during the period. Northern Trust Corp owned 0.05% of Canadian Solar worth $487,000 as of its most recent SEC filing. Institutional investors and hedge funds own 40.12% of the company’s stock.

About Canadian Solar

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.

Earnings History for Canadian Solar (NASDAQ:CSIQ)

Receive News & Ratings for Canadian Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply