Q2 2022 Earnings Forecast for Canadian Solar Inc. Issued By Oppenheimer (NASDAQ:CSIQ)

Canadian Solar Inc. (NASDAQ:CSIQGet Rating) – Equities researchers at Oppenheimer raised their Q2 2022 earnings per share (EPS) estimates for Canadian Solar in a report released on Tuesday, May 24th. Oppenheimer analyst C. Rusch now forecasts that the solar energy provider will post earnings of $1.12 per share for the quarter, up from their prior forecast of $0.56. Oppenheimer also issued estimates for Canadian Solar’s Q3 2022 earnings at $0.90 EPS, Q4 2022 earnings at $1.32 EPS and FY2022 earnings at $3.50 EPS.

Other equities analysts have also recently issued reports about the stock. StockNews.com initiated coverage on shares of Canadian Solar in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Citigroup lifted their price target on shares of Canadian Solar from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, March 28th. Zacks Investment Research raised shares of Canadian Solar from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a research note on Wednesday, March 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Canadian Solar from $41.00 to $39.00 in a research note on Friday, March 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $38.00.

Shares of NASDAQ:CSIQ opened at $30.31 on Friday. Canadian Solar has a 52 week low of $22.15 and a 52 week high of $48.35. The stock has a market capitalization of $1.82 billion, a P/E ratio of 20.90 and a beta of 1.47. The firm has a fifty day simple moving average of $31.25 and a two-hundred day simple moving average of $31.47. The company has a quick ratio of 0.89, a current ratio of 1.18 and a debt-to-equity ratio of 0.35.

Canadian Solar (NASDAQ:CSIQGet Rating) last announced its quarterly earnings results on Tuesday, May 24th. The solar energy provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.31. Canadian Solar had a net margin of 1.80% and a return on equity of 3.63%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm posted $0.36 EPS. Canadian Solar’s revenue for the quarter was up 14.8% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in Canadian Solar by 1.4% during the 4th quarter. BlackRock Inc. now owns 4,740,612 shares of the solar energy provider’s stock valued at $148,333,000 after buying an additional 65,797 shares in the last quarter. Invesco Ltd. lifted its holdings in Canadian Solar by 1.0% during the 4th quarter. Invesco Ltd. now owns 2,903,469 shares of the solar energy provider’s stock valued at $90,850,000 after buying an additional 30,157 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Canadian Solar by 3.2% in the 1st quarter. Mackenzie Financial Corp now owns 2,602,658 shares of the solar energy provider’s stock valued at $92,030,000 after purchasing an additional 80,050 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Canadian Solar by 26.3% in the 4th quarter. Schroder Investment Management Group now owns 2,430,106 shares of the solar energy provider’s stock valued at $76,038,000 after purchasing an additional 506,659 shares in the last quarter. Finally, DNB Asset Management AS raised its holdings in shares of Canadian Solar by 15.4% in the 4th quarter. DNB Asset Management AS now owns 872,075 shares of the solar energy provider’s stock valued at $27,287,000 after purchasing an additional 116,315 shares in the last quarter. Institutional investors own 46.97% of the company’s stock.

Canadian Solar Company Profile (Get Rating)

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products. The company operates through two segments, Module and System Solutions (MSS), and Energy. The MSS segment engages in the design, development, manufacture, and sale of a range of solar power products, including standard solar modules, specialty solar products, and solar system kits that are a ready-to-install packages comprising inverters, racking systems, and other accessories.

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