NEW YORK (TheStreet) -- Canadian Solar (CSIQ - Get Report) is scheduled to release its 2015 second quarter earnings results after the market close on Tuesday afternoon. Analysts are expecting that the company will post a year over year rise in earnings but a decline in revenue for the most recent quarter.
Canadian Solar has been forecast by analysts surveyed by Thomson Reuters to report earnings of 13 cents per share on revenue of $592.5 million.
Last year, the company reported a net income of 93 cents per diluted share on net revenue of $623.8 million for the 2014 second quarter.
Canadian Solar, based in West Guelph, Canada, designs, develops, manufactures and sells solar wafers, cells and solar power products worldwide.
Separately, TheStreet Ratings team rates CANADIAN SOLAR INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CANADIAN SOLAR INC (CSIQ) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, attractive valuation levels, compelling growth in net income and impressive record of earnings per share growth. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- CSIQ's very impressive revenue growth greatly exceeded the industry average of 10.6%. Since the same quarter one year prior, revenues leaped by 84.6%. Growth in the company's revenue appears to have helped boost the earnings per share.
- The company's current return on equity greatly increased when compared to its ROE from the same quarter one year prior. This is a signal of significant strength within the corporation. Compared to other companies in the Semiconductors & Semiconductor Equipment industry and the overall market, CANADIAN SOLAR INC's return on equity significantly exceeds that of both the industry average and the S&P 500.
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Semiconductors & Semiconductor Equipment industry. The net income increased by 1521.2% when compared to the same quarter one year prior, rising from $3.78 million to $61.33 million.
- CANADIAN SOLAR INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. However, we anticipate underperformance relative to this pattern in the coming year. During the past fiscal year, CANADIAN SOLAR INC increased its bottom line by earning $4.05 versus $0.56 in the prior year. For the next year, the market is expecting a contraction of 33.3% in earnings ($2.70 versus $4.05).
- You can view the full analysis from the report here: CSIQ Ratings Report