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MARKETS LIVE BLOG:

S&P 500 SLIPS BELOW 5,000; NASDAQ SINKS ON NETFLIX DRAG

Fed's Goolsbee says 'It makes sense to wait' before cutting rates

How Canadian Solar (CSIQ) Stock Stands Out in a Strong Industry

Zacks Equity Research
·2 min read

One stock that might be an intriguing choice for investors right now is Canadian Solar Inc. CSIQ. This is because this security in the Solar space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Solar space as it currently has a Zacks Industry Rank of 47 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Canadian Solar is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

Canadian Solar Inc. Price and Consensus

Canadian Solar Inc. Price and Consensus
Canadian Solar Inc. Price and Consensus

Canadian Solar Inc. price-consensus-chart | Canadian Solar Inc. Quote

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In fact, over the past month, current quarter estimates have narrowed from a loss of 3 cents per share to a loss of 1 cent per share, while current year estimates have risen from $2.07 per share to $2.69 per share. This has helped CSIQ to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position.  You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

So, if you are looking for a decent pick in a strong industry, consider Canadian Solar. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report
 
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Zacks Investment Research