Canadian Solar Inc (NASDAQ:CSIQ)’s traded shares stood at 0.57 million during the latest session, with the company’s beta value hitting 1.26. At the last check today, the stock’s price was $11.94, to imply an increase of 4.23% or $0.48 in intraday trading. The CSIQ share’s 52-week high remains $26.85, putting it -124.87% down since that peak but still an impressive 8.63% since price per share fell to its 52-week low of $10.91. The company has a valuation of $790.45M, with an average of 1.95 million shares in intraday trading volume over the past 10 days and average of 2.19 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Canadian Solar Inc (CSIQ), translating to a mean rating of 2.57. Of 4 analyst(s) looking at the stock, 2 analyst(s) give CSIQ a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -0.19.
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Canadian Solar Inc (NASDAQ:CSIQ) trade information
After registering a 4.23% upside in the latest session, Canadian Solar Inc (CSIQ) has traded red over the past five days. The 5-day price performance for the stock is -3.75%, and -8.68% over 30 days. With these gigs, the year-to-date price performance is -54.46%. Short interest in Canadian Solar Inc (NASDAQ:CSIQ) saw shorts transact 10.36 million shares and set a 3.8 days time to cover.
The extremes give us $11 and $27 for target low and target high price respectively. As such, CSIQ has been trading -126.13% off suggested target high and 7.87% from its likely low.
Canadian Solar Inc (CSIQ) estimates and forecasts
Looking at statistics comparing Canadian Solar Inc share performance against respective industry, we note that the company has underperformed competitors. Canadian Solar Inc (CSIQ) shares are -31.31% down over the last 6 months, with its year-to-date growth rate lower than industry average at -89.41% against -21.00%. The rating firms project that company’s revenue will shrink -15.06% compared to the previous financial year.
Revenue forecast for the current quarter as set by 6 analysts is 1.81B. Meanwhile, for the current quarter, a total of 5 analyst(s) estimate revenue growth to 1.68B.Earnings reports from the last fiscal year show that sales brought in 1.7B and 1.33B respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 6.11% before jumping 26.69% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 0.83% for the past 5-year period. While 2024 is set for a -90.79% return in earnings, projections for the next 5 years are at 17.50% annually.
CSIQ Dividends
Canadian Solar Inc has its next earnings report out in January. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too.
Canadian Solar Inc (NASDAQ:CSIQ)’s Major holders
The next major institution holding the largest number of shares is MACKENZIE FINANCIAL CORP with 5.12 million shares, or about 7.7317% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $75.46 million.
We also have Invesco ETF TR II-Invesco Solar ETF and Vanguard International Stock Index-Total Intl Stock Indx as the top two Mutual Funds with the largest holdings of the Canadian Solar Inc (CSIQ) shares. Going by data provided on Sep 30, 2024, Invesco ETF TR II-Invesco Solar ETF holds roughly 1.44 shares. This is just over 2.18% of the total shares, with a market valuation of $17.41 million. Data from the same date shows that the other fund manager holds a little less at 702.61, or 1.06% of the shares, all valued at about 8.49 million.
