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Canadian Solar (CSIQ) Gains As Market Dips: What You Should Know
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In the latest trading session, Canadian Solar (CSIQ - Free Report) closed at $52.78, marking a +1.48% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.19%. Meanwhile, the Dow 0%, and the Nasdaq, a tech-heavy index, added 0.07%.
Investors will be hoping for strength from CSIQ as it approaches its next earnings release. The company is expected to report EPS of -$0.55, down 152.88% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $997.33 million, up 8.44% from the year-ago period.
It is also important to note the recent changes to analyst estimates for CSIQ. These revisions help to show the ever-changing nature of near-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. Within the past 30 days, our consensus EPS projection 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 23.15 right now. Its industry sports an average Forward P/E of 52.9, so we one might conclude that CSIQ is trading at a discount comparatively.
Also, we should mention that CSIQ has a PEG ratio of 0.72. 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. CSIQ's industry had an average PEG ratio of 2.18 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 112, putting it in the top 44% 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
In the latest trading session, Canadian Solar (CSIQ - Free Report) closed at $52.78, marking a +1.48% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.19%. Meanwhile, the Dow 0%, and the Nasdaq, a tech-heavy index, added 0.07%.
Investors will be hoping for strength from CSIQ as it approaches its next earnings release. The company is expected to report EPS of -$0.55, down 152.88% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $997.33 million, up 8.44% from the year-ago period.
It is also important to note the recent changes to analyst estimates for CSIQ. These revisions help to show the ever-changing nature of near-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. Within the past 30 days, our consensus EPS projection 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 23.15 right now. Its industry sports an average Forward P/E of 52.9, so we one might conclude that CSIQ is trading at a discount comparatively.
Also, we should mention that CSIQ has a PEG ratio of 0.72. 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. CSIQ's industry had an average PEG ratio of 2.18 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 112, putting it in the top 44% 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.