Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $19.59 on Canadian Solar Inc. (NASDAQ:CSIQ) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $1.61 for the next fiscal and $N/A for underway quarter.
Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Canadian Solar Inc. (NASDAQ:CSIQ) stands at 4.98.
Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Canadian Solar Inc., the PEG ratio for coming 3-5 years is 0.61.
The technical analysis highlights that Canadian Solar Inc. current is trading $-0.75 points away or -5.37% from its 50-day moving average of $13.89. Further it is trading $-3.93 or -23.02% away its 200-day moving average of $17.07.
The 52-week high of Canadian Solar Inc. (NASDAQ:CSIQ) was $29.83 while lowest point recorded in 52-week was $12.12. It implies if stock price makes a movement of over $-16.69, it will record a new 52-week high. In the case of +8.42% drop, it will touch a new 52-week low.
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