In the latest trading session, Canadian Solar (CSIQ - Free Report) closed at $39.36, marking a +0.66% move from the previous day. This move outpaced the S&P 500's daily gain of 0.57%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.33%.
Prior to today's trading, shares of the solar wafers manufacturer had lost 6.39% over the past month. This has lagged the Oils-Energy sector's loss of 2.71% and the S&P 500's gain of 1.72% in that time.
Investors will be hoping for strength from Canadian Solar as it approaches its next earnings release. In that report, analysts expect Canadian Solar to post earnings of $0.45 per share. This would mark year-over-year growth of 221.43%. Meanwhile, our latest consensus estimate is calling for revenue of $1.66 billion, up 33.01% from the prior-year quarter.
CSIQ's full-year Zacks Consensus Estimates are calling for earnings of $5.36 per share and revenue of $9.12 billion. These results would represent year-over-year changes of +55.81% and +22.18%, respectively.
Any recent changes to analyst estimates for Canadian Solar should also be noted by investors. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 7.59% lower. Canadian Solar currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Canadian Solar is holding a Forward P/E ratio of 7.29. This represents a discount compared to its industry's average Forward P/E of 27.47.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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In the latest trading session, Canadian Solar (CSIQ - Free Report) closed at $39.36, marking a +0.66% move from the previous day. This move outpaced the S&P 500's daily gain of 0.57%. At the same time, the Dow added 0.43%, and the tech-heavy Nasdaq gained 0.33%.
Prior to today's trading, shares of the solar wafers manufacturer had lost 6.39% over the past month. This has lagged the Oils-Energy sector's loss of 2.71% and the S&P 500's gain of 1.72% in that time.
Investors will be hoping for strength from Canadian Solar as it approaches its next earnings release. In that report, analysts expect Canadian Solar to post earnings of $0.45 per share. This would mark year-over-year growth of 221.43%. Meanwhile, our latest consensus estimate is calling for revenue of $1.66 billion, up 33.01% from the prior-year quarter.
CSIQ's full-year Zacks Consensus Estimates are calling for earnings of $5.36 per share and revenue of $9.12 billion. These results would represent year-over-year changes of +55.81% and +22.18%, respectively.
Any recent changes to analyst estimates for Canadian Solar should also be noted by investors. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 7.59% lower. Canadian Solar currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Canadian Solar is holding a Forward P/E ratio of 7.29. This represents a discount compared to its industry's average Forward P/E of 27.47.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Free Report – The Bitcoin Profit Phenomenon
Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.
Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.
Download Now – Today It’s FREE >>
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