Are You Looking To Buy Canadian Solar Inc. (CSIQ)? First, Read This

Canadian Solar Inc. (NASDAQ:CSIQ) finished Friday with a subtraction of -$0.69 to close at $37.52, a downside of -1.81 percent. An average of 757,540 shares of common stock have been traded in the last five days. There was a gain of $0.81 in the past week, and it reached a new high 13 times over the past 12 months. The last 20 days have seen an average of 962,685 shares traded, while the 50-day average volume stands at 1,069,570.

CSIQ stock has increased by 9.29% in the last month. The company shares reached their 1-month lowest point of $31.40 on 10/06/21. With the stock rallying to its 52-week high on 01/25/21, shares of the company touched a low of $31.40 and a high of $67.39 in 52 weeks. It has reached a new high 5 times so far this year and lost -26.78% or -$13.72 in price. In spite of this, the price is down -44.32% from the 52-week high.


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Valuation Metrics

Canadian Solar Inc. (CSIQ) has a trailing price-to-earnings (P/E) ratio of 47.61, which compares with the 31.10 for the broader industry and 38.99 for the sector. In the last five years, Canadian Solar Inc.’s PE ratio has ranged between 56.05 and 2.972. The stock’s beta is 1.42. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.50, the price-to-book (PB) ratio at 1.37.

The quick ratio of Canadian Solar Inc. for the three months ended June 29 was 0.80, and the current ratio was 1.10, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.46 and a total debt to equity ratio of 1.77 for the quarter ending June 29. Canadian Solar Inc.’s EBITDA margin for the year ending June 29 is 11.85%, while its operating margin for the same period stands at 2.90%. Its gross profit as reported stood at $689.91 million compared to revenue of $3.48 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Canadian Solar Inc.’s return on assets was 0.70%. For the broader industry, ROE averaged -0.25 over the past year.

Earnings Surprise

For the three-month period that ended June 29, Canadian Solar Inc. had $446.09 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $146.7 million in the quarter, while revenues were shrunk -16.97%. The analyst consensus anticipated Canadian Solar Inc.’s latest quarter earnings to come in at -$0.3 per share, but it turned out to be $0.18, a 160.00% surprise. For the quarter, EBITDA amounted to $26.38 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Canadian Solar Inc. (CSIQ) price momentum. RSI 9-day as of the close on 22 October was 63.44%, suggesting the stock is Neutral, with historical volatility in this time frame at 59.88%.

As of today, CSIQ’s price is $37.47 +2.21% or $0.81 from its 5-day moving average. CSIQ is currently trading +11.27% higher than its 20-day SMA and -5.66% lower than its 100-day SMA. However, the stock’s current price level is -9.81% below the SMA50 and -33.72% below the SMA200.

The stochastic %K and %D were 87.67% and 87.65%, respectively, and the average true range (ATR) was 1.42. With the 14-day stochastic at 84.41% and the average true range at 1.45, the RSI (14) stands at 58.84%. The stock has reached 0.60 on the 9-day MACD Oscillator while the 14-day reading was at 2.18.

Analyst Ratings

Citigroup launched coverage on Canadian Solar Inc. (NASDAQ: CSIQ) in its analyst report released on January 08, 2021. The firm assigned the stock a a Buy rating. The consensus rating for Canadian Solar Inc. (CSIQ) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell CSIQ, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.

What is CSIQ’s price target for the next 12 months?

Analysts predict a range of price targets between $41.00 and $55.00, with a median target of $51.00. Taking a look at these predictions, the average price target given by analysts for Canadian Solar Inc. (CSIQ) stock is $49.33.

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