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Canadian Solar (CSIQ) Gains But Lags Market: What You Should Know
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Canadian Solar (CSIQ - Free Report) closed at $30.89 in the latest trading session, marking a +1.35% move from the prior day. This change lagged the S&P 500's 2.6% gain on the day.
Prior to today's trading, shares of the solar wafers manufacturer had lost 28.15% over the past month. This has lagged the Oils-Energy sector's loss of 5.18% and the S&P 500's loss of 12.9% in that time.
Canadian Solar will be looking to display strength as it nears its next earnings release. In that report, analysts expect Canadian Solar to post earnings of $0.58 per share. This would mark year-over-year growth of 38.1%. Our most recent consensus estimate is calling for quarterly revenue of $2.04 billion, up 66.11% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.66 per share and revenue of $7.7 billion. These totals would mark changes of +135.4% and +45.87%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Canadian Solar. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Canadian Solar is currently a Zacks Rank #2 (Buy).
In terms of valuation, Canadian Solar is currently trading at a Forward P/E ratio of 11.44. Its industry sports an average Forward P/E of 43.71, so we one might conclude that Canadian Solar is trading at a discount comparatively.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Canadian Solar (CSIQ) Gains But Lags Market: What You Should Know
Canadian Solar (CSIQ - Free Report) closed at $30.89 in the latest trading session, marking a +1.35% move from the prior day. This change lagged the S&P 500's 2.6% gain on the day.
Prior to today's trading, shares of the solar wafers manufacturer had lost 28.15% over the past month. This has lagged the Oils-Energy sector's loss of 5.18% and the S&P 500's loss of 12.9% in that time.
Canadian Solar will be looking to display strength as it nears its next earnings release. In that report, analysts expect Canadian Solar to post earnings of $0.58 per share. This would mark year-over-year growth of 38.1%. Our most recent consensus estimate is calling for quarterly revenue of $2.04 billion, up 66.11% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.66 per share and revenue of $7.7 billion. These totals would mark changes of +135.4% and +45.87%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Canadian Solar. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Canadian Solar is currently a Zacks Rank #2 (Buy).
In terms of valuation, Canadian Solar is currently trading at a Forward P/E ratio of 11.44. Its industry sports an average Forward P/E of 43.71, so we one might conclude that Canadian Solar is trading at a discount comparatively.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.