Why Canadian Solar (CSIQ) Could Be Positioned for a Surge? - Tale of the Tape

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Canadian Solar Inc. ( CSIQ ), a manufacturer of solar power products, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CSIQ's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Canadian Solar could be a solid choice for investors.

Current Quarter Estimates for CSIQ

In the past 30 days, 1 estimate has gone higher for Canadian Solar while none moved lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 25 cents a share 30 days ago to 67 cents today, a move of 168%.

Current Year Estimates for CSIQ

Meanwhile, Canadian Solar's current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 42 cents per share 30 days ago to 84 cents per share today, an increase of 100%.

Bottom Line

The stock has also started to move higher lately, adding 14.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Investing Ideas , Stocks

Referenced Stocks: CSIQ

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