Canadian Solar (NASDAQ:CSIQ) Rating Increased to Hold at Wall Street Zen

Key Points

• Canadian Solar has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen, indicating a more favorable outlook for the stock.
• Recent target price changes by several brokerages include an increase from $7.00 to $8.00 by JPMorgan Chase, while others have set varied projection rates, with a current consensus target of $11.64.
• Despite the positive upgrades, Canadian Solar reported a missed earnings estimate with an EPS of ($0.53), below the expected $0.76, and anticipates a negative EPS of -0.23 for the current fiscal year.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Friday.

A number of other brokerages have also recently commented on CSIQ. JPMorgan Chase & Co. increased their target price on shares of Canadian Solar from $7.00 to $8.00 and gave the company an "underweight" rating in a research report on Friday, September 19th. Wells Fargo & Company reduced their target price on shares of Canadian Solar from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 3rd. Citigroup reduced their target price on shares of Canadian Solar from $12.50 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, August 21st. Mizuho reduced their target price on shares of Canadian Solar from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Friday, August 22nd. Finally, Zacks Research upgraded shares of Canadian Solar from a "strong sell" rating to a "hold" rating in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $11.64.

Canadian Solar Price Performance

NASDAQ:CSIQ traded down $0.35 during trading hours on Friday, reaching $12.95. 1,104,482 shares of the company were exchanged, compared to its average volume of 1,876,445. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.98. The stock's 50-day moving average is $11.66 and its 200-day moving average is $10.62. The firm has a market cap of $867.26 million, a PE ratio of -21.58 and a beta of 1.16. Canadian Solar has a twelve month low of $6.57 and a twelve month high of $19.55.

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

Hedge Funds Weigh In On Canadian Solar

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp grew its stake in shares of Canadian Solar by 7.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,884,865 shares of the solar energy provider's stock worth $64,969,000 after purchasing an additional 405,800 shares during the period. IvyRock Asset Management HK Ltd increased its holdings in shares of Canadian Solar by 87.8% in the 1st quarter. IvyRock Asset Management HK Ltd now owns 2,607,700 shares of the solar energy provider's stock valued at $22,557,000 after purchasing an additional 1,219,200 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Canadian Solar by 15.5% in the 1st quarter. Invesco Ltd. now owns 2,311,596 shares of the solar energy provider's stock valued at $19,995,000 after purchasing an additional 310,564 shares in the last quarter. Shah Capital Management increased its holdings in shares of Canadian Solar by 9.2% in the 1st quarter. Shah Capital Management now owns 1,906,285 shares of the solar energy provider's stock valued at $16,489,000 after purchasing an additional 160,739 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Canadian Solar by 21.7% in the 2nd quarter. Legal & General Group Plc now owns 1,815,113 shares of the solar energy provider's stock valued at $20,039,000 after purchasing an additional 324,254 shares in the last quarter. 52.36% of the stock is currently owned by hedge funds and other 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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