In its upcoming report, Canadian Solar (CSIQ) is predicted by Wall Street analysts to post quarterly loss of -$1.08 per share, reflecting a decline of 248.4% compared to the same period last year. Revenues are forecasted to be $1.37 billion, representing a year-over-year decrease of 9.1%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 16.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Canadian Solar metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Revenues- CSI Solar- Solar modules' will reach $841.65 million. The estimate indicates a year-over-year change of -30.9%.
The combined assessment of analysts suggests that 'Revenues- CSI Solar- Solar system kits' will likely reach $126.97 million. The estimate points to a change of +19.3% from the year-ago quarter.
The consensus among analysts is that 'Revenues- CSI Solar- Battery energy storage solutions' will reach $333.66 million. The estimate indicates a year-over-year change of +249.8%.
Analysts expect 'Revenues- CSI Solar- EPC and others' to come in at $50.84 million. The estimate indicates a year-over-year change of +16.6%.
According to the collective judgment of analysts, 'Revenues- CSI Solar- Total' should come in at $1.41 billion. The estimate indicates a year-over-year change of -3.3%.
Based on the collective assessment of analysts, 'Revenues- Recurrent Energy- Total' should arrive at $77.57 million. The estimate points to a change of +72.2% from the year-ago quarter.
View all Key Company Metrics for Canadian Solar here>>>
Canadian Solar shares have witnessed a change of +128.3% in the past month, in contrast to the Zacks S&P 500 composite's +4.4% move. With a Zacks Rank #3 (Hold), CSIQ is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Canadian Solar Inc. (CSIQ): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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