Canadian Solar Inc. to Post Q1 2017 Earnings of $0.37 Per Share, Roth Capital Forecasts (CSIQ)

Canadian Solar Inc. (NASDAQ:CSIQ) – Analysts at Roth Capital lowered their Q1 2017 earnings per share (EPS) estimates for shares of Canadian Solar in a research report issued to clients and investors on Wednesday. Roth Capital analyst P. Shen now expects that the firm will post earnings per share of $0.37 for the quarter, down from their previous forecast of $0.81. Roth Capital currently has a “Hold” rating and a $12.00 price target on the stock. Roth Capital also issued estimates for Canadian Solar’s Q2 2017 earnings at $0.57 EPS, Q3 2017 earnings at $0.47 EPS, Q4 2017 earnings at $0.53 EPS, FY2017 earnings at $1.93 EPS and FY2018 earnings at $1.77 EPS.

A number of other research firms have also issued reports on CSIQ. FBR & Co reaffirmed a “mkt perform” rating and set a $13.00 target price (up from $12.00) on shares of Canadian Solar in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on Canadian Solar from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday. Guggenheim reaffirmed a “neutral” rating on shares of Canadian Solar in a report on Wednesday, December 21st. Finally, Zacks Investment Research cut Canadian Solar from a “buy” rating to a “hold” rating in a research note on Tuesday, February 14th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Canadian Solar has a consensus rating of “Hold” and an average price target of $19.49.

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

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Canadian Solar (NASDAQ:CSIQ) opened at 11.15 on Friday. Canadian Solar has a 12-month low of $10.25 and a 12-month high of $19.92. The stock has a market capitalization of $644.22 million, a price-to-earnings ratio of 4.65 and a beta of 2.78. The firm has a 50-day moving average of $13.44 and a 200-day moving average of $13.04.

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

A number of large investors have recently bought and sold shares of the company. State Street Corp raised its stake in Canadian Solar by 7.4% in the fourth quarter. State Street Corp now owns 18,931 shares of the company’s stock valued at $230,000 after buying an additional 1,307 shares during the period. Guinness Asset Management Ltd raised its stake in Canadian Solar by 25.6% in the third quarter. Guinness Asset Management Ltd now owns 15,200 shares of the company’s stock valued at $209,000 after buying an additional 3,100 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Canadian Solar by 27.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,514 shares of the company’s stock valued at $189,000 after buying an additional 3,350 shares during the period. KBC Group NV raised its stake in Canadian Solar by 59.1% in the third quarter. KBC Group NV now owns 10,289 shares of the company’s stock valued at $141,000 after buying an additional 3,820 shares during the period. Finally, Global X Management Co. LLC raised its stake 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 during the period. Hedge funds and other institutional investors own 36.88% 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.

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