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Canadian Solar (CSIQ) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Canadian Solar (CSIQ - Free Report) closed at $43.32, marking a -1.39% move from the previous day. This move lagged the S&P 500's daily gain of 0.6%. At the same time, the Dow added 1.46%, and the tech-heavy Nasdaq lost 0.04%.
Prior to today's trading, shares of the solar wafers manufacturer had lost 27.66% over the past month. This has lagged the Oils-Energy sector's gain of 9.59% and the S&P 500's loss of 0.8% in that time.
Investors will be hoping for strength from CSIQ as it approaches its next earnings release, which is expected to be March 18, 2021. On that day, CSIQ is projected to report earnings of -$0.55 per share, which would represent a year-over-year decline of 152.88%. Our most recent consensus estimate is calling for quarterly revenue of $997.33 million, up 8.44% from the year-ago period.
Investors should also note any recent changes to analyst estimates for CSIQ. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CSIQ is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, CSIQ currently has a Forward P/E ratio of 19.55. This valuation marks a discount compared to its industry's average Forward P/E of 43.97.
Also, we should mention that CSIQ has a PEG ratio of 0.61. 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 1.76 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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Canadian Solar (CSIQ) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Canadian Solar (CSIQ - Free Report) closed at $43.32, marking a -1.39% move from the previous day. This move lagged the S&P 500's daily gain of 0.6%. At the same time, the Dow added 1.46%, and the tech-heavy Nasdaq lost 0.04%.
Prior to today's trading, shares of the solar wafers manufacturer had lost 27.66% over the past month. This has lagged the Oils-Energy sector's gain of 9.59% and the S&P 500's loss of 0.8% in that time.
Investors will be hoping for strength from CSIQ as it approaches its next earnings release, which is expected to be March 18, 2021. On that day, CSIQ is projected to report earnings of -$0.55 per share, which would represent a year-over-year decline of 152.88%. Our most recent consensus estimate is calling for quarterly revenue of $997.33 million, up 8.44% from the year-ago period.
Investors should also note any recent changes to analyst estimates for CSIQ. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. CSIQ is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, CSIQ currently has a Forward P/E ratio of 19.55. This valuation marks a discount compared to its industry's average Forward P/E of 43.97.
Also, we should mention that CSIQ has a PEG ratio of 0.61. 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 1.76 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.