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Canadian Solar (CSIQ) Dips More Than Broader Markets: What You Should Know
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Canadian Solar (CSIQ - Free Report) closed at $39.20 in the latest trading session, marking a -5.15% move from the prior day. This move lagged the S&P 500's daily loss of 0.67%.
Wall Street will be looking for positivity from CSIQ as it approaches its next earnings report date. On that day, CSIQ is projected to report earnings of $0.28 per share, which would represent a year-over-year decline of 80%. Our most recent consensus estimate is calling for quarterly revenue of $1.04 billion, up 25.69% from the year-ago period.
CSIQ's full-year Zacks Consensus Estimates are calling for earnings of $2.51 per share and revenue of $5.7 billion. These results would represent year-over-year changes of +5.46% and +63.88%, respectively.
Investors might also notice recent changes to analyst estimates for CSIQ. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that CSIQ has a Forward P/E ratio of 16.44 right now. This valuation marks a discount compared to its industry's average Forward P/E of 58.05.
We can also see that CSIQ currently has a PEG ratio of 1.37. 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. The Solar industry currently had an average PEG ratio of 1.43 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 250, which puts it in the bottom 2% 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.
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Canadian Solar (CSIQ) Dips More Than Broader Markets: What You Should Know
Canadian Solar (CSIQ - Free Report) closed at $39.20 in the latest trading session, marking a -5.15% move from the prior day. This move lagged the S&P 500's daily loss of 0.67%.
Wall Street will be looking for positivity from CSIQ as it approaches its next earnings report date. On that day, CSIQ is projected to report earnings of $0.28 per share, which would represent a year-over-year decline of 80%. Our most recent consensus estimate is calling for quarterly revenue of $1.04 billion, up 25.69% from the year-ago period.
CSIQ's full-year Zacks Consensus Estimates are calling for earnings of $2.51 per share and revenue of $5.7 billion. These results would represent year-over-year changes of +5.46% and +63.88%, respectively.
Investors might also notice recent changes to analyst estimates for CSIQ. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that CSIQ has a Forward P/E ratio of 16.44 right now. This valuation marks a discount compared to its industry's average Forward P/E of 58.05.
We can also see that CSIQ currently has a PEG ratio of 1.37. 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. The Solar industry currently had an average PEG ratio of 1.43 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 250, which puts it in the bottom 2% 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.