Canadian Solar (CSIQ) closed at $38.69 in the latest trading session, marking a -0.08% move from the prior day. This change lagged the S&P 500's 0.58% gain on the day.
Heading into today, shares of the solar wafers manufacturer had lost 5.56% over the past month, lagging the Oils-Energy sector's gain of 4.75% and the S&P 500's gain of 2.17% in that time.
Wall Street will be looking for positivity from CSIQ as it approaches its next earnings report date. The company is expected to report EPS of -$0.31, down 444.44% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.43 billion, up 104.93% from the year-ago period.
CSIQ's full-year Zacks Consensus Estimates are calling for earnings of $1.51 per share and revenue of $5.86 billion. These results would represent year-over-year changes of -36.55% and +68.65%, respectively.
Any recent changes to analyst estimates for CSIQ should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 21.53% lower. CSIQ currently has a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that CSIQ has a Forward P/E ratio of 25.7 right now. This valuation marks a discount compared to its industry's average Forward P/E of 47.89.
Meanwhile, CSIQ's PEG ratio is currently 2.14. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Solar stocks are, on average, holding a PEG ratio of 2.24 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 233, putting it in the bottom 9% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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