Canadian Solar Inc., together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc. (CSI) Solar and Global Energy. The CSI Solar segment offers standard solar modules and battery storage solutions, as well as solar system kits that are a ready-to-install packages comprising inverters, racking systems, and other accessories; and engineering, procurement, and construction (EPC) services. The Global Energy segment engages in the development, construction, maintenance, and sale of solar and battery storage projects; operation of solar power plants; and sale of electricity. This segment also provides operation and maintenance (O&M) services, including monitoring, inspections, repair, and replacement of plant equipment; and site management and administrative support services for solar projects, as well as asset management services. As of January 31, 2021, this segment had a fleet of solar power plants in operation with an aggregate capacity of approximately 445 MWp. The company serves distributors, system integrators, project developers, and installers/EPC companies. It sells its products primarily under its Canadian Solar brand name; and on an OEM basis. The company was incorporated in 2001 and is headquartered in Guelph, Canada.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. lifted their price objective on Canadian Solar from $38.00 to $42.00 and gave the company a "neutral" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $37.25.
Canadian Solar Stock Up 5.2 %
NASDAQ:CSIQ traded up $2.07 during trading hours on Wednesday, hitting $41.92. The company's stock had a trading volume of 1,306,852 shares, compared to its average volume of 985,785. Canadian Solar has a 52-week low of $22.15 and a 52-week high of $43.14. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.52 billion, a P/E ratio of 32.40 and a beta of 1.43. The stock has a fifty day moving average of $32.60 and a 200-day moving average of $31.21.
Canadian Solar (NASDAQ:CSIQ - Get Rating) last released its quarterly earnings data on Tuesday, May 24th. The solar energy provider reported $0.14 EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.19. Canadian Solar had a return on equity of 2.86% and a net margin of 1.50%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the business posted $0.36 EPS. The business's revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts forecast that Canadian Solar will post 3.06 earnings per share for the current year.