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Canadian Solar (CSIQ) Gains As Market Dips: What You Should Know
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Canadian Solar (CSIQ - Free Report) closed at $60.75 in the latest trading session, marking a +0.03% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.04%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq lost 0.25%.
Coming into today, shares of the solar wafers manufacturer had gained 5.87% in the past month. In that same time, the Oils-Energy sector gained 0.92%, while the S&P 500 gained 2.37%.
Wall Street will be looking for positivity from CSIQ as it approaches its next earnings report date. In that report, analysts expect CSIQ to post earnings of -$0.55 per share. This would mark a year-over-year decline of 152.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $997.33 million, up 8.44% from the year-ago period.
Any recent changes to analyst estimates for CSIQ should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CSIQ is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that CSIQ has a Forward P/E ratio of 26.48 right now. For comparison, its industry has an average Forward P/E of 69.58, which means CSIQ is trading at a discount to the group.
Also, we should mention that CSIQ has a PEG ratio of 0.83. 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. CSIQ's industry had an average PEG ratio of 2.26 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Canadian Solar (CSIQ) Gains As Market Dips: What You Should Know
Canadian Solar (CSIQ - Free Report) closed at $60.75 in the latest trading session, marking a +0.03% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.04%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq lost 0.25%.
Coming into today, shares of the solar wafers manufacturer had gained 5.87% in the past month. In that same time, the Oils-Energy sector gained 0.92%, while the S&P 500 gained 2.37%.
Wall Street will be looking for positivity from CSIQ as it approaches its next earnings report date. In that report, analysts expect CSIQ to post earnings of -$0.55 per share. This would mark a year-over-year decline of 152.88%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $997.33 million, up 8.44% from the year-ago period.
Any recent changes to analyst estimates for CSIQ should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CSIQ is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that CSIQ has a Forward P/E ratio of 26.48 right now. For comparison, its industry has an average Forward P/E of 69.58, which means CSIQ is trading at a discount to the group.
Also, we should mention that CSIQ has a PEG ratio of 0.83. 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. CSIQ's industry had an average PEG ratio of 2.26 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 106, which puts it in the top 42% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.