In the latest trading session, Canadian Solar (CSIQ) closed at $29.28, marking a -0.81% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.12%. At the same time, the Dow lost 0.88%, and the tech-heavy Nasdaq lost 1.07%.
Prior to today's trading, shares of the solar wafers manufacturer had gained 14.91% over the past month. This has outpaced the Oils-Energy sector's loss of 8.29% and the S&P 500's loss of 0.59% in that time.
Wall Street will be looking for positivity from CSIQ as it approaches its next earnings report date. The company is expected to report EPS of -$0.04, down 106.06% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $860.54 million, up 13.25% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.60 per share and revenue of $3.52 billion. These totals would mark changes of +18.72% and +10.12%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CSIQ. These revisions help to show the ever-changing nature of 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. 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 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. Within the past 30 days, our consensus EPS projection remained stagnant. CSIQ is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, CSIQ is holding a Forward P/E ratio of 11.35. For comparison, its industry has an average Forward P/E of 48.74, which means CSIQ is trading at a discount to the group.
Also, we should mention that CSIQ has a PEG ratio of 0.35. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CSIQ's industry had an average PEG ratio of 0.84 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 116, which puts it in the top 46% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Canadian Solar Inc. (CSIQ): Free Stock Analysis Report
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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 Nasdaq, Inc.