Canadian Solar Inc. Second Quarter Earnings Sneak Peek

Canadian Solar Inc. (NASDAQ:CSIQ) will unveil its latest earnings on Wednesday, August 17, 2011. Canadian Solar, Inc. designs, develops, manufactures and sells solar cell and solar module products that convert sunlight into electricity.

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Canadian Solar Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 29 cents per share, a rise of more than fourfold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 33 cents. Between one and three months ago, the average estimate moved down and dropped from 31 cents during the last month. For the year, analysts are projecting profit of $1.10 per share, a decline of 5.2% from last year.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported net income of 44 cents per share against a mean estimate of profit of 41 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 7 cents.

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Wall St. Revenue Expectations: On average, analysts predict $449.8 million in revenue this quarter, a rise of 36.8% from the year ago quarter. Analysts are forecasting total revenue of $1.89 billion for the year, a rise of 26% from last year’s revenue of $1.5 billion.

Analyst Ratings: Analysts seem relatively indifferent about Canadian Solar with eight of 10 analysts surveyed maintaining a hold rating.

Key Stats:

Revenue has now gone up for three straight quarters. In first quarter, revenue rose 31.6% to $443.4 million while the figure rose 78.1% in the fourth quarter of the last fiscal year from the year earlier and 77% in the third quarter of the last fiscal year.

Competitors to Watch: First Solar, Inc. (NASDAQ:FSLR), Trina Solar Limited (NYSE:TSL), SunPower Corporation (NASDAQ:SPWRA), JA Solar Hldgs. Co., Ltd. (NASDAQ:JASO), China Sunergy Co., Ltd. (NASDAQ:CSUN), Suntech Power Hldgs. Co., Ltd. (NYSE:STP), Hanwha Solarone Co Ltd (HSOL), Yingli Green Energy Hold. Co. Ltd. (NYSE:YGE), LDK Solar Co., Ltd (NYSE:LDK), and Evergreen Solar, Inc. (NASDAQ:ESLR).

Stock Price Performance: During June 16, 2011 to August 12, 2011, the stock price had fallen $2.85 (-27.9%) from $10.21 to $7.36. The stock price saw one of its best stretches over the last year between June 20, 2011 and June 27, 2011 when shares rose for six-straight days, rising 15.7% (+$1.54) over that span. It saw one of its worst periods between July 22, 2011 and August 4, 2011 when shares fell for 10-straight days, falling 21.8% (-$2.10) over that span. Shares are down $5.03 (-40.6%) year to date.

(Source: Xignite Financials)

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