Canadian Solar Inc. (NASDAQ:CSIQ) Given Average Recommendation of "Hold" by Analysts

Key Points

• Canadian Solar Inc. has received an average recommendation of "Hold" from analysts, with two sell ratings, three hold ratings, and two buy ratings among the seven analysts covering the stock.
• The company's recent quarterly earnings revealed a loss of $0.53 EPS, missing analysts' estimates, with revenue of $1.69 billion compared to expectations of $1.90 billion.
• Analyst price targets for Canadian Solar have varied, with Mizuho lowering their price objective from $17.00 to $15.00 while Wells Fargo & Company reduced their target from $11.00 to $10.00.

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) has earned a consensus recommendation of "Hold" from the seven analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $11.6917.

A number of equities analysts have recently issued reports on CSIQ shares. Zacks Research downgraded Canadian Solar from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 21st. Wall Street Zen downgraded Canadian Solar from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Mizuho lowered their price objective on Canadian Solar from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Friday, August 22nd. Wells Fargo & Company lowered their price objective on Canadian Solar from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, The Goldman Sachs Group raised their price objective on Canadian Solar from $8.00 to $9.00 and gave the stock a "sell" rating in a research report on Friday, May 16th.

Canadian Solar Stock Performance

Shares of CSIQ stock opened at $11.17 on Friday. The business's 50-day moving average price is $11.88 and its 200-day moving average price is $10.47. Canadian Solar has a 12 month low of $6.57 and a 12 month high of $19.55. The firm has a market capitalization of $748.05 million, a price-to-earnings ratio of -18.62 and a beta of 1.16. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.98.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($1.29). Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the business posted $0.02 earnings per share. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts forecast that Canadian Solar will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Canadian Solar

A number of hedge funds have recently added to or reduced their stakes in CSIQ. Raymond James Financial Inc. bought a new stake in Canadian Solar in the second quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd bought a new stake in Canadian Solar in the first quarter worth approximately $39,000. Wells Fargo & Company MN increased its holdings in Canadian Solar by 184.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock worth $57,000 after purchasing an additional 3,347 shares in the last quarter. Summit Securities Group LLC increased its holdings in Canadian Solar by 598.5% in the first quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider's stock worth $61,000 after purchasing an additional 6,015 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Canadian Solar by 38.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 8,094 shares of the solar energy provider's stock worth $89,000 after purchasing an additional 2,254 shares in the last quarter. 52.36% of the stock is currently owned by institutional investors.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.

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