In the latest trading session, Canadian Solar (CSIQ) closed at $38.11, marking a +1.95% move from the previous day. This move outpaced the S&P 500's daily loss of 0.87%.
Prior to today's trading, shares of the solar wafers manufacturer had lost 13.61% over the past month. This has lagged the Oils-Energy sector's gain of 6.4% and the S&P 500's gain of 1.61% in that time.
Investors will be hoping for strength from CSIQ as it approaches its next earnings release, which is expected to be May 20, 2021. In that report, analysts expect CSIQ to post earnings of $0.28 per share. This would mark a year-over-year decline of 80%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.04 billion, up 25.69% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.51 per share and revenue of $5.7 billion, which would represent changes of +5.46% and +63.88%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for CSIQ. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CSIQ is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, CSIQ is currently trading at a Forward P/E ratio of 14.87. For comparison, its industry has an average Forward P/E of 48.6, which means CSIQ is trading at a discount to the group.
It is also worth noting that CSIQ currently has a PEG ratio of 1.24. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CSIQ's industry had an average PEG ratio of 1.3 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 228, which puts it in the bottom 11% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report
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