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Canadian Solar (NASDAQ: CSIQ) publishes quarterly results, beating estimates by $ 0.66 per share

Canadian Solar (NASDAQ: CSIQ) released its quarterly results on Thursday. The solar energy company reported earnings of $ 0.11 per share for the quarter, beating the consensus estimate of ($ 0.55) by $ 0.66, MarketWatch Earnings reported. Canadian Solar had a net margin of 6.19% and a return on equity of 10.28%. The company had revenue of $ 1.04 billion for the quarter, compared to the consensus estimate of $ 997.86 million. For the same quarter last year, the company posted earnings of $ 1.04 per share. The company’s quarterly revenue increased 13.2% year over year. Canadian Solar has updated its pre-market forecast for the first quarter of 2021 to EPS and its pre-market forecast for fiscal year 2021 to EPS.

NASDAQ CSIQ’s shares were trading at $ 2.17 at noon on Thursday, hitting $ 43.57. 137,504 shares were exchanged, compared to an average volume of 2,214,082 shares. The company has a 50-day simple moving average of $ 51.73 and a 200-day simple moving average of $ 43.99. The stock has a market cap of $ 2.59 billion, a P / E of 12.76, a P / E of 0.71, and a beta of 1.55. The company has a leverage ratio of 0.47, a fast rate of 1.04, and a current rate of 1.24. Canadian Solar has a twelve month low of $ 12.00 and a twelve month high of $ 67.39.

Several research analysts recently rated the stock. Roth Capital raised its price target for shares in Canadian Solar from USD 32.00 to USD 50.00 and gave the stock a “Buy” rating in a research report on Friday, November 20. Zacks Investment Research downgraded Canadian Solar’s shares from a “buy” rating to a “strong sell” rating and set a price target of $ 34.00 for the company. in a research report on Tuesday, November 24th. Oppenheimer raised his target price for shares in Canadian Solar from USD 33.00 to USD 48.00 and rated the shares as “Outperform” in a research report on Friday, November 20. Goldman Sachs Group downgraded Canadian Solar shares from a “buy” rating to a “neutral” rating and raised its price target for the company from $ 43.00 to $ 48 in a report dated Monday, January 4th. 00 USD. Finally, CICC Research upgraded Canadian Solar’s shares from a “Market Perform” rating to an “Outperform” rating and a target price of $ 48.00 for the company in a report on Wednesday, November 25th. One analyst gave the stock a sell rating, two gave it a hold rating, and six gave the company’s stock a buy rating. Canadian Solar has a consensus rating of “Buy” and an average price target of $ 48.67.

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Revenue is projected to grow from $ 10 billion in 2018 to an estimated $ 97 billion in 2026, according to a new report from Fortune Business Insights.

And this company is using AI to create a unique self-service experience that has never been seen before.

It’s no wonder more and more investors are stepping in before this explodes.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures and sells solar bars, wafers, cells, modules and other solar power products. The company operates in two segments: module and system solutions (MSS) and energy. The MSS segment designs, manufactures, and sells a range of solar energy products, including standard solar modules, specialty solar products, and solar system kits, which are ready-to-install packages that include inverters, shelving systems, and other accessories.

Further Reading: How Accurate is the Rule of 72?

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