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Canadian Solar (CSIQ) Stock Sinks As Market Gains: What You Should Know
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Canadian Solar (CSIQ - Free Report) closed the most recent trading day at $40.85, moving -0.37% from the previous trading session. This change lagged the S&P 500's daily gain of 0.25%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq added 7.26%.
Coming into today, shares of the solar wafers manufacturer had gained 34.74% in the past month. In that same time, the Oils-Energy sector gained 4.55%, while the S&P 500 gained 5.73%.
Investors will be hoping for strength from Canadian Solar as it approaches its next earnings release. On that day, Canadian Solar is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 94.12%. Meanwhile, our latest consensus estimate is calling for revenue of $1.84 billion, up 20.57% from the prior-year quarter.
Any recent changes to analyst estimates for Canadian Solar should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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 #3 (Hold) right now.
Looking at its valuation, Canadian Solar is holding a Forward P/E ratio of 7.22. This valuation marks a discount compared to its industry's average Forward P/E of 34.48.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 53, putting it in the top 22% 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.
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
Canadian Solar (CSIQ - Free Report) closed the most recent trading day at $40.85, moving -0.37% from the previous trading session. This change lagged the S&P 500's daily gain of 0.25%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq added 7.26%.
Coming into today, shares of the solar wafers manufacturer had gained 34.74% in the past month. In that same time, the Oils-Energy sector gained 4.55%, while the S&P 500 gained 5.73%.
Investors will be hoping for strength from Canadian Solar as it approaches its next earnings release. On that day, Canadian Solar is projected to report earnings of $0.33 per share, which would represent year-over-year growth of 94.12%. Meanwhile, our latest consensus estimate is calling for revenue of $1.84 billion, up 20.57% from the prior-year quarter.
Any recent changes to analyst estimates for Canadian Solar should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering 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 #3 (Hold) right now.
Looking at its valuation, Canadian Solar is holding a Forward P/E ratio of 7.22. This valuation marks a discount compared to its industry's average Forward P/E of 34.48.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 53, putting it in the top 22% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.