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Canadian Solar (CSIQ) Gains But Lags Market: What You Should Know
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In the latest trading session, Canadian Solar (CSIQ - Free Report) closed at $31.93, marking a +1.11% move from the previous day. This move lagged the S&P 500's daily gain of 2.46%. At the same time, the Dow added 2.59%, and the tech-heavy Nasdaq lost 0.23%.
Prior to today's trading, shares of the solar wafers manufacturer had lost 15.2% over the past month. This has lagged the Oils-Energy sector's gain of 20.08% and the S&P 500's gain of 4.56% in that time.
Wall Street will be looking for positivity from Canadian Solar as it approaches its next earnings report date. This is expected to be November 22, 2022. The company is expected to report EPS of $0.58, up 38.1% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.04 billion, up 66.11% from the year-ago period.
CSIQ's full-year Zacks Consensus Estimates are calling for earnings of $2.66 per share and revenue of $7.7 billion. These results would represent year-over-year changes of +135.4% and +45.87%, respectively.
Investors might also notice recent changes to analyst estimates for Canadian Solar. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Canadian Solar currently has a Zacks Rank of #2 (Buy).
Investors should also note Canadian Solar's current valuation metrics, including its Forward P/E ratio of 11.86. This valuation marks a discount compared to its industry's average Forward P/E of 43.22.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Canadian Solar (CSIQ) Gains But Lags Market: What You Should Know
In the latest trading session, Canadian Solar (CSIQ - Free Report) closed at $31.93, marking a +1.11% move from the previous day. This move lagged the S&P 500's daily gain of 2.46%. At the same time, the Dow added 2.59%, and the tech-heavy Nasdaq lost 0.23%.
Prior to today's trading, shares of the solar wafers manufacturer had lost 15.2% over the past month. This has lagged the Oils-Energy sector's gain of 20.08% and the S&P 500's gain of 4.56% in that time.
Wall Street will be looking for positivity from Canadian Solar as it approaches its next earnings report date. This is expected to be November 22, 2022. The company is expected to report EPS of $0.58, up 38.1% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.04 billion, up 66.11% from the year-ago period.
CSIQ's full-year Zacks Consensus Estimates are calling for earnings of $2.66 per share and revenue of $7.7 billion. These results would represent year-over-year changes of +135.4% and +45.87%, respectively.
Investors might also notice recent changes to analyst estimates for Canadian Solar. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Canadian Solar currently has a Zacks Rank of #2 (Buy).
Investors should also note Canadian Solar's current valuation metrics, including its Forward P/E ratio of 11.86. This valuation marks a discount compared to its industry's average Forward P/E of 43.22.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 76, putting it in the top 31% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.