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In the latest trading session, Canadian Solar (CSIQ) closed at $40.25, marking a -0.05% move from the previous day. This change lagged the S&P 500's daily gain of 0.18%.
Prior to today's trading, shares of the solar wafers manufacturer had gained 9.97% over the past month. This has outpaced the Oils-Energy sector's gain of 4.11% and the S&P 500's gain of 2.43% in that time.
CSIQ will be looking to display strength as it nears its next earnings release. In that report, analysts expect CSIQ to post earnings of -$0.31 per share. This would mark a year-over-year decline of 444.44%. Meanwhile, our latest consensus estimate is calling for revenue of $1.43 billion, up 104.93% from the prior-year quarter.
CSIQ's full-year Zacks Consensus Estimates are calling for earnings of $1.51 per share and revenue of $5.86 billion. These results would represent year-over-year changes of -36.55% and +68.65%, respectively.
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.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 40.05% lower. CSIQ is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, CSIQ currently has a Forward P/E ratio of 26.73. Its industry sports an average Forward P/E of 51.34, so we one might conclude that CSIQ is trading at a discount comparatively.
Also, we should mention that CSIQ has a PEG ratio of 2.23. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CSIQ's industry had an average PEG ratio of 2.19 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 18% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report
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