Today, Canadian Solar Inc. Forecasted to Earn FY2016 Earnings of $1.48 Per Share (CSIQ)

Today, Canadian Solar Inc. Forecasted to Earn FY2016 Earnings of $1.48 Per Share (CSIQ)
Canadian Solar Inc. (NASDAQ:CSIQ) – Equities researchers at Oppenheimer Holdings dropped their FY2016 earnings estimates for Canadian Solar in a note issued to investors on Monday. Oppenheimer Holdings analyst C. Rusch now anticipates that the firm will post earnings per share of $1.48 for the year, down from their prior estimate of $1.62. Oppenheimer Holdings also issued estimates for Canadian Solar’s Q4 2016 earnings at $0.10 EPS, Q4 2017 earnings at $0.98 EPS and FY2017 earnings at $2.57 EPS.

Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Monday, November 21st. The company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.03. The business earned $657.30 million during the quarter, compared to analyst estimates of $685.28 million. Canadian Solar had a return on equity of 15.81% and a net margin of 4.26%. Canadian Solar’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS.

A number of other equities research analysts have also recently issued reports on the stock. JMP Securities reissued a “hold” rating on shares of Canadian Solar in a report on Tuesday. Roth Capital restated a “neutral” rating and set a $11.00 price target on shares of Canadian Solar in a research report on Tuesday. FBR & Co lowered shares of Canadian Solar from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $23.00 to $12.00 in a research report on Tuesday. Zacks Investment Research upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Friday, November 4th. Finally, Vetr lowered shares of Canadian Solar from a “hold” rating to a “sell” rating and set a $14.54 price target for the company. in a research report on Wednesday, October 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. Canadian Solar presently has an average rating of “Hold” and an average price target of $21.15.

Canadian Solar (NASDAQ:CSIQ) opened at 10.83 on Wednesday. The company has a market capitalization of $625.74 million, a price-to-earnings ratio of 4.52 and a beta of 3.19. The company’s 50-day moving average price is $13.63 and its 200 day moving average price is $14.58. Canadian Solar has a 12 month low of $10.25 and a 12 month high of $29.83.

A number of hedge funds have recently bought and sold shares of CSIQ. Cetera Advisor Networks LLC raised its stake in Canadian Solar by 36.8% in the third quarter. Cetera Advisor Networks LLC now owns 51,350 shares of the company’s stock valued at $706,000 after buying an additional 13,800 shares during the last quarter. Clinton Group Inc. raised its stake in Canadian Solar by 70.2% in the third quarter. Clinton Group Inc. now owns 103,123 shares of the company’s stock valued at $1,417,000 after buying an additional 42,525 shares during the last quarter. Quentec Asset Management LLC raised its stake in Canadian Solar by 55.9% in the third quarter. Quentec Asset Management LLC now owns 1,598,228 shares of the company’s stock valued at $21,960,000 after buying an additional 572,963 shares during the last quarter. Northern Trust Corp raised its stake in Canadian Solar by 8.2% in the third quarter. Northern Trust Corp now owns 27,356 shares of the company’s stock valued at $376,000 after buying an additional 2,076 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Canadian Solar by 149.1% in the third quarter. SG Americas Securities LLC now owns 90,840 shares of the company’s stock valued at $1,248,000 after buying an additional 54,371 shares during the last quarter. Institutional investors and hedge funds own 37.48% of the company’s stock.

Canadian Solar Company Profile

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.

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.

Related posts

Leave a Comment