Canadian Solar's (CSIQ) "Sell" Rating Reiterated at Citigroup

Key Points

• Citigroup has downgraded Canadian Solar from a "neutral" to a "sell" rating, setting a price target of $11.00 which implies a 25.78% downside from the stock's previous close.
• Multiple analysts have adjusted their ratings on Canadian Solar, with UBS and Mizuho lowering their price targets to $15.00 while maintaining buy and outperform ratings, respectively.
• Canadian Solar reported an earnings miss for the latest quarter, with an EPS of (0.53), significantly below the expected $0.76, and revenue also falling short of consensus estimates.

Canadian Solar (NASDAQ:CSIQ - Get Free Report)'s stock had its "sell" rating restated by stock analysts at Citigroup in a research report issued on Tuesday, MarketBeat reports. They presently have a $11.00 price objective on the solar energy provider's stock. Citigroup's price target would indicate a potential downside of 25.78% from the company's previous close.

Several other research firms also recently commented on CSIQ. JPMorgan Chase & Co. boosted their price target on shares of Canadian Solar from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Thursday, October 16th. Wall Street Zen raised Canadian Solar from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. Wells Fargo & Company reduced their target price on shares of Canadian Solar from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 3rd. Weiss Ratings reissued a "sell (d)" rating on shares of Canadian Solar in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Canadian Solar from a "strong sell" rating to a "hold" rating in a research note on Friday, September 19th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $11.89.

Canadian Solar Stock Performance

Shares of CSIQ stock opened at $14.82 on Tuesday. Canadian Solar has a one year low of $6.57 and a one year high of $17.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.87 and a current ratio of 1.09. The firm's 50 day moving average price is $12.47 and its 200-day moving average price is $11.23. The firm has a market cap of $992.50 million, a P/E ratio of -24.70 and a beta of 1.28.

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

Institutional Trading of Canadian Solar

A number of large investors have recently bought and sold shares of the business. IvyRock Asset Management HK Ltd boosted its stake in shares of Canadian Solar by 87.8% during the first quarter. IvyRock Asset Management HK Ltd now owns 2,607,700 shares of the solar energy provider's stock worth $22,557,000 after buying an additional 1,219,200 shares during the period. Charles Schwab Investment Management Inc. raised its position in Canadian Solar by 38.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 251,204 shares of the solar energy provider's stock worth $2,173,000 after buying an additional 70,412 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Canadian Solar in the 2nd quarter worth $382,000. Aberdeen Group plc boosted its holdings in shares of Canadian Solar by 109.2% in the first quarter. Aberdeen Group plc now owns 97,145 shares of the solar energy provider's stock valued at $840,000 after acquiring an additional 50,714 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Canadian Solar by 52.2% during the first quarter. Cerity Partners LLC now owns 374,966 shares of the solar energy provider's stock worth $3,243,000 after acquiring an additional 128,669 shares during the period. Institutional investors and hedge funds own 52.36% of the company's stock.

Canadian Solar Company Profile

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.