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Canadian Solar (CSIQ) Stock Moves -1.44%: What You Should Know

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In the latest trading session, Canadian Solar (CSIQ - Free Report) closed at $36.84, marking a -1.44% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.72%. At the same time, the Dow lost 1.62%, and the tech-heavy Nasdaq gained 0.01%.

Coming into today, shares of the solar wafers manufacturer had lost 16.51% in the past month. In that same time, the Oils-Energy sector lost 4.64%, while the S&P 500 lost 9.09%.

Investors will be hoping for strength from Canadian Solar as it approaches its next earnings release. The company is expected to report EPS of $0.58, up 38.1% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.04 billion, up 66.11% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2.66 per share and revenue of $7.7 billion, which would represent changes of +135.4% and +45.87%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Canadian Solar. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Canadian Solar is holding a Zacks Rank of #2 (Buy) right now.

Looking at its valuation, Canadian Solar is holding a Forward P/E ratio of 14.03. This represents a discount compared to its industry's average Forward P/E of 50.44.

The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

To follow CSIQ in the coming trading sessions, be sure to utilize Zacks.com.


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