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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 $37.90, moving -1.1% from the previous trading session. This change lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 1.91%.
Heading into today, shares of the solar wafers manufacturer had lost 10.05% over the past month, lagging the Oils-Energy sector's loss of 2.56% and the S&P 500's gain of 1.24% in that time.
Canadian Solar will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.45, up 221.43% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.64 billion, up 31.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.24 per share and revenue of $8.97 billion, which would represent changes of +52.33% and +20.09%, respectively, from the prior year.
Any recent changes to analyst estimates for Canadian Solar should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 9.7% lower. Canadian Solar is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Canadian Solar is holding a Forward P/E ratio of 7.32. For comparison, its industry has an average Forward P/E of 27.06, which means Canadian Solar is trading at a discount to the group.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% 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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Canadian Solar (CSIQ) Stock Sinks As Market Gains: What You Should Know
Canadian Solar (CSIQ - Free Report) closed the most recent trading day at $37.90, moving -1.1% from the previous trading session. This change lagged the S&P 500's daily gain of 0.36%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 1.91%.
Heading into today, shares of the solar wafers manufacturer had lost 10.05% over the past month, lagging the Oils-Energy sector's loss of 2.56% and the S&P 500's gain of 1.24% in that time.
Canadian Solar will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.45, up 221.43% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.64 billion, up 31.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.24 per share and revenue of $8.97 billion, which would represent changes of +52.33% and +20.09%, respectively, from the prior year.
Any recent changes to analyst estimates for Canadian Solar should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 9.7% lower. Canadian Solar is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Canadian Solar is holding a Forward P/E ratio of 7.32. For comparison, its industry has an average Forward P/E of 27.06, which means Canadian Solar is trading at a discount to the group.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% 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.