Canadian Solar (CSIQ) closed at $39.87 in the latest trading session, marking a -0.94% move from the prior day. This move lagged the S&P 500's daily loss of 0.18%.

Heading into today, shares of the solar wafers manufacturer had lost 6.57% over the past month, lagging the Oils-Energy sector's loss of 6.26% and the S&P 500's gain of 2.44% in that time.

CSIQ will be looking to display strength as it nears its next earnings release, which is expected to be August 12, 2021. The company is expected to report EPS of -$0.31, down 444.44% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.43 billion, up 104.93% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.51 per share and revenue of $5.86 billion. These totals would mark changes of -36.55% and +68.65%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for CSIQ. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. CSIQ currently has a Zacks Rank of #3 (Hold).

Investors should also note CSIQ's current valuation metrics, including its Forward P/E ratio of 26.72. This valuation marks a discount compared to its industry's average Forward P/E of 51.82.

Investors should also note that CSIQ has a PEG ratio of 2.23 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CSIQ's industry had an average PEG ratio of 2.6 as of yesterday's close.

The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 245, putting it in the bottom 4% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

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