Economy

Canadian Solar Inc. (NASDAQ:CSIQ) To Report Earnings

Canadian Solar Inc. (NASDAQ:CSIQ) To Report Earningsā€

Equities research analysts predict that First Solar, Inc.

Canadian Solar posted revenue of $912.2 million (+31.8 percent), gross profit of $159.8 million with gross margin of 17.5 percent, operating expenses of $102 million (+21.3 percent) and net income of $13.3 million in the third quarter of 2017. Six analysts have issued estimates for First Solar's earnings, with the lowest sales estimate coming in at $405.80 million and the highest estimate coming in at $460.00 million. The firm is expected to issue its next earnings results on Tuesday, February 20th. For the quarter ending Mar-18, 4 analysts have a mean sales target of 1,150.20 million whilst for the year ending Dec-17, 8 analysts have a mean target of 3,482.18 million.

Sell-side analysts have also provided a consensus recommendation of 2.90 on company shares.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 26th. The solar energy provider reported ($0.15) EPS for the quarter, beating the Zacks' consensus estimate of ($0.16) by $0.01. Canadian Solar plans to further increase its ingot capacity to 1,720 MW by June 30, 2018, and may expand to 2,500 MW. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $859.22 million. During the same quarter previous year, the company earned $1.22 EPS. The business's revenue was down 14.1% on a year-over-year basis. The stock's current RSI reading is at 74.63.

Heading into the earnings release, covering analysts have a consensus target price of $16.97 on Canadian Solar Inc. shares. JMP Securities set a $67.00 target price on First Solar and gave the company a "buy" rating in a report on Wednesday, August 16th. First Solar now has an average rating of "Hold" and an average price target of $47.61.

First Solar (NASDAQ FSLR) opened at $61.79 on Thursday. Total debt to equity ratio of the company for most recent quarter is 3.22 whereas long term debt to equity ratio for most recent quarter is 0.66. To make a proper assessment, investors seek a sound estimate of this year's and next year's earnings per share (EPS), as well as a strong sense of how much the company will earn even farther down the road.

Now we will discuss the financial strength of Canadian Solar Inc.

Having a peek at growth estimates of the company, Canadian Solar Inc (NASDAQ:CSIQ) has current quarter growth estimates of -3.7% however it has 275% estimations over growth for the next quarter. Global X MANAGEMENT CO LLC increased its holdings in shares of Canadian Solar by 9.5% in the third quarter. NEXT Financial Group Inc raised its position in shares of First Solar by 23.9% in the 2nd quarter. A total of 1.25 Million shares exchanged hands during the intra-day trade compared with its average trading volume of 1.17 Million shares, while its relative volume stands at 1.07. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of First Solar by 64.3% in the 3rd quarter. Columbus Circle Investors now owns 78,380 shares of the solar energy provider's stock worth $1,320,000 after purchasing an additional 58,421 shares during the last quarter. Canadian Solar Inc (NASDAQ:CSIQ) has a market cap of $1.07 Billion and the number of outstanding shares have been calculated 56.91 Million.

WARNING: This report was originally reported by Week Herald and is the property of of Week Herald. If you are reading this news story on another domain, it was stolen and republished in violation of United States and global copyright & trademark laws.

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions.

The new Baotou ingot factory enables Canadian Solar to reduce the amount it pays to purchase external ingots and thus reduces its all-in module manufacturing costs.



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