Canadian Solar Inc. (CSIQ) Forecasted to Earn Q1 2018 Earnings of $0.42 Per Share

Canadian Solar Inc. (NASDAQ:CSIQ) – Roth Capital issued their Q1 2018 earnings per share (EPS) estimates for shares of Canadian Solar in a research note issued on Wednesday. Roth Capital analyst P. Shen expects that the brokerage will post earnings per share of $0.42 for the quarter. Roth Capital currently has a “Hold” rating and a $12.00 target price on the stock. Roth Capital also issued estimates for Canadian Solar’s Q2 2018 earnings at $65.00 EPS, Q3 2018 earnings at $0.33 EPS and Q4 2018 earnings at $0.37 EPS.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Tuesday, March 21st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.08. Canadian Solar had a return on equity of 15.60% and a net margin of 4.26%. The business had revenue of $668.40 million for the quarter, compared to the consensus estimate of $698.57 million. During the same quarter in the previous year, the company earned $1.05 earnings per share. The firm’s revenue was down 40.3% on a year-over-year basis.

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Earnings History and Estimates for Canadian Solar (NASDAQ:CSIQ)

Other analysts have also issued reports about the stock. FBR & Co restated a “mkt perform” rating and issued a $13.00 price objective (up from $12.00) on shares of Canadian Solar in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of Canadian Solar from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday. Guggenheim restated a “neutral” rating on shares of Canadian Solar in a report on Wednesday, December 21st. Finally, Zacks Investment Research lowered shares of Canadian Solar from a “buy” rating to a “hold” rating in a report on Tuesday, February 14th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $19.49.

Canadian Solar (NASDAQ:CSIQ) opened at 11.15 on Thursday. Canadian Solar has a one year low of $10.25 and a one year high of $19.92. The company has a market capitalization of $644.22 million, a PE ratio of 4.65 and a beta of 2.78. The firm’s 50-day moving average is $13.44 and its 200 day moving average is $13.04.

A number of institutional investors have recently added to or reduced their stakes in CSIQ. SG Americas Securities LLC increased its position 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 in the last quarter. BlackRock Group LTD increased its position in Canadian Solar by 56.8% in the third quarter. BlackRock Group LTD now owns 1,509,978 shares of the company’s stock valued at $20,748,000 after buying an additional 547,155 shares in the last quarter. Tradition Capital Management LLC increased its position in Canadian Solar by 21.6% in the third quarter. Tradition Capital Management LLC now owns 70,775 shares of the company’s stock valued at $972,000 after buying an additional 12,550 shares in the last quarter. Global X Management Co. LLC increased its position in Canadian Solar by 27.1% in the third quarter. Global X Management Co. LLC now owns 21,742 shares of the company’s stock valued at $299,000 after buying an additional 4,642 shares in the last quarter. Finally, Delta Lloyd NV increased its position in Canadian Solar by 4.9% in the third quarter. Delta Lloyd NV now owns 550,188 shares of the company’s stock valued at $7,560,000 after buying an additional 25,757 shares in the last quarter. 36.88% of the stock is owned by institutional investors.

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.

5 Day Chart for NASDAQ:CSIQ

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