We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Canadian Solar (CSIQ) Flat As Market Gains: What You Should Know
Read MoreHide Full Article
Canadian Solar (CSIQ - Free Report) closed the most recent trading day at $22.07, making no change from the previous trading session. This change lagged the S&P 500's 0.06% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.24%.
Coming into today, shares of the solar wafers manufacturer had lost 6.32% in the past month. In that same time, the Oils-Energy sector lost 1.2%, while the S&P 500 gained 6.45%.
Investors will be eagerly watching for the performance of Canadian Solar in its upcoming earnings disclosure. On that day, Canadian Solar is projected to report earnings of -$0.13 per share, which would represent a year-over-year decline of 111.71%. At the same time, our most recent consensus estimate is projecting a revenue of $1.65 billion, reflecting a 16.33% fall from the equivalent quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Canadian Solar. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Canadian Solar is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Canadian Solar has a Forward P/E ratio of 8.31 right now. This expresses a discount compared to the average Forward P/E of 11.34 of its industry.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 115, finds itself in the top 46% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Canadian Solar (CSIQ) Flat As Market Gains: What You Should Know
Canadian Solar (CSIQ - Free Report) closed the most recent trading day at $22.07, making no change from the previous trading session. This change lagged the S&P 500's 0.06% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.24%.
Coming into today, shares of the solar wafers manufacturer had lost 6.32% in the past month. In that same time, the Oils-Energy sector lost 1.2%, while the S&P 500 gained 6.45%.
Investors will be eagerly watching for the performance of Canadian Solar in its upcoming earnings disclosure. On that day, Canadian Solar is projected to report earnings of -$0.13 per share, which would represent a year-over-year decline of 111.71%. At the same time, our most recent consensus estimate is projecting a revenue of $1.65 billion, reflecting a 16.33% fall from the equivalent quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Canadian Solar. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Canadian Solar is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Canadian Solar has a Forward P/E ratio of 8.31 right now. This expresses a discount compared to the average Forward P/E of 11.34 of its industry.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 115, finds itself in the top 46% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.