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Canadian Solar (CSIQ) Stock Moves -0.13%: What You Should Know
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Canadian Solar (CSIQ - Free Report) closed at $39.20 in the latest trading session, marking a -0.13% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.28%, and the Nasdaq, a tech-heavy index, added 3.16%.
Heading into today, shares of the solar wafers manufacturer had lost 2.65% over the past month, outpacing the Oils-Energy sector's loss of 7.03% and the S&P 500's loss of 5.39% in that time.
Investors will be hoping for strength from Canadian Solar as it approaches its next earnings release, which is expected to be March 21, 2023. In that report, analysts expect Canadian Solar to post earnings of $0.48 per share. This would mark year-over-year growth of 182.35%. Our most recent consensus estimate is calling for quarterly revenue of $1.88 billion, up 23.29% from the year-ago period.
Any recent changes to analyst estimates for Canadian Solar should also be noted by investors. 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.
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 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. The Zacks Consensus EPS estimate has moved 2.17% higher within the past month. Canadian Solar is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Canadian Solar currently has a Forward P/E ratio of 6.77. This valuation marks a discount compared to its industry's average Forward P/E of 32.04.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.
To follow CSIQ in the coming trading sessions, be sure to utilize Zacks.com.
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Canadian Solar (CSIQ) Stock Moves -0.13%: What You Should Know
Canadian Solar (CSIQ - Free Report) closed at $39.20 in the latest trading session, marking a -0.13% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.15%. Meanwhile, the Dow lost 0.28%, and the Nasdaq, a tech-heavy index, added 3.16%.
Heading into today, shares of the solar wafers manufacturer had lost 2.65% over the past month, outpacing the Oils-Energy sector's loss of 7.03% and the S&P 500's loss of 5.39% in that time.
Investors will be hoping for strength from Canadian Solar as it approaches its next earnings release, which is expected to be March 21, 2023. In that report, analysts expect Canadian Solar to post earnings of $0.48 per share. This would mark year-over-year growth of 182.35%. Our most recent consensus estimate is calling for quarterly revenue of $1.88 billion, up 23.29% from the year-ago period.
Any recent changes to analyst estimates for Canadian Solar should also be noted by investors. 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.
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 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. The Zacks Consensus EPS estimate has moved 2.17% higher within the past month. Canadian Solar is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, Canadian Solar currently has a Forward P/E ratio of 6.77. This valuation marks a discount compared to its industry's average Forward P/E of 32.04.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.
To follow CSIQ in the coming trading sessions, be sure to utilize Zacks.com.