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Canadian Solar (CSIQ) Stock Moves -0.35%: What You Should Know
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Canadian Solar (CSIQ - Free Report) closed the most recent trading day at $42.56, moving -0.35% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.53%. At the same time, the Dow lost 1.72%, and the tech-heavy Nasdaq lost 3.27%.
Coming into today, shares of the solar wafers manufacturer had gained 5.33% in the past month. In that same time, the Oils-Energy sector gained 2.96%, while the S&P 500 lost 1.28%.
Canadian Solar will be looking to display strength as it nears its next earnings release, which is expected to be March 21, 2023. On that day, Canadian Solar is projected to report earnings of $0.48 per share, which would represent year-over-year growth of 182.35%. Meanwhile, our latest consensus estimate is calling for revenue of $1.88 billion, up 23.29% 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 has moved 2.17% higher. 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 7.36. This represents a discount compared to its industry's average Forward P/E of 34.17.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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) Stock Moves -0.35%: What You Should Know
Canadian Solar (CSIQ - Free Report) closed the most recent trading day at $42.56, moving -0.35% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.53%. At the same time, the Dow lost 1.72%, and the tech-heavy Nasdaq lost 3.27%.
Coming into today, shares of the solar wafers manufacturer had gained 5.33% in the past month. In that same time, the Oils-Energy sector gained 2.96%, while the S&P 500 lost 1.28%.
Canadian Solar will be looking to display strength as it nears its next earnings release, which is expected to be March 21, 2023. On that day, Canadian Solar is projected to report earnings of $0.48 per share, which would represent year-over-year growth of 182.35%. Meanwhile, our latest consensus estimate is calling for revenue of $1.88 billion, up 23.29% 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 has moved 2.17% higher. 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 7.36. This represents a discount compared to its industry's average Forward P/E of 34.17.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 50, which puts it in the top 20% 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.