In the latest trading session, Canadian Solar (CSIQ - Free Report) closed at $29.90, marking a -1.24% move from the previous day. This change lagged the S&P 500's daily gain of 0.3%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.37%.
Prior to today's trading, shares of the solar wafers manufacturer had gained 7.93% over the past month. This has outpaced the Oils-Energy sector's loss of 12.48% and the S&P 500's loss of 5.02% in that time.
CSIQ will be looking to display strength as it nears its next earnings release. In that report, analysts expect CSIQ to post earnings of -$0.04 per share. This would mark a year-over-year decline of 106.06%. Meanwhile, our latest consensus estimate is calling for revenue of $860.54 million, up 13.25% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.60 per share and revenue of $3.52 billion, which would represent changes of +18.72% and +10.12%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for CSIQ. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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 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 remained stagnant. CSIQ currently has a Zacks Rank of #3 (Hold).
Investors should also note CSIQ's current valuation metrics, including its Forward P/E ratio of 11.64. This valuation marks a discount compared to its industry's average Forward P/E of 32.31.
Investors should also note that CSIQ has a PEG ratio of 0.36 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Solar stocks are, on average, holding a PEG ratio of 1.25 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 74, putting it in the top 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.