Relative to its size, Canadian Solar (CSIQ) is the most overlooked of these solar stocks.
Depending on the year in question, the company ranks anywhere from being in the top five to the top three suppliers in the world. And it supplies the whole world, with big, equitable demand from the United States, China, and Japan … three nations with lots of their own solar panel manufacturers, and a bent for protectionism. Canadian Solar simply muscles its way into key markets, generating sales growth of 27% in 2013.
That’s not the reason an investor would want to own CSIQ stock, however. The reason Canadian Solar is one of the most worthy solar stocks is its swing back to profitability in the third quarter of last year, and 2014 earnings estimates that price CSIQ stock at a very affordable (and very plausible) forward-looking P/E of 8.5.
As of this writing, James Brumley did not hold a position in any of the aforementioned securities.