Analysts Set Expectations for Canadian Solar FY2027 Earnings

Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) - Research analysts at Zacks Research dropped their FY2027 earnings estimates for shares of Canadian Solar in a research note issued to investors on Thursday, June 5th. Zacks Research analyst R. Department now forecasts that the solar energy provider will earn $1.69 per share for the year, down from their previous estimate of $1.73. The consensus estimate for Canadian Solar's current full-year earnings is ($0.23) per share.

Other analysts have also issued reports about the company. Wall Street Zen raised Canadian Solar from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Citigroup upgraded Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 price objective on the stock in a research report on Thursday, April 17th. Wells Fargo & Company raised their price objective on shares of Canadian Solar from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Mizuho decreased 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 note on Monday, June 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Canadian Solar from $8.00 to $9.00 and gave the stock a "sell" rating in a report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $16.58.

Canadian Solar Stock Performance

Shares of NASDAQ CSIQ traded down $0.09 during trading on Monday, reaching $10.89. 503,184 shares of the company traded hands, compared to its average volume of 1,860,755. The stock has a market cap of $729.33 million, a P/E ratio of -90.75, a PEG ratio of 0.74 and a beta of 1.38. The firm's fifty day simple moving average is $9.38 and its 200 day simple moving average is $10.38. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. Canadian Solar has a 12-month low of $6.57 and a 12-month high of $19.55.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The solar energy provider reported ($1.07) earnings per share for the quarter, topping analysts' consensus estimates of ($1.50) by $0.43. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business earned $0.19 earnings per share. The business's quarterly revenue was down 10.0% compared to the same quarter last year.

Hedge Funds Weigh In On Canadian Solar

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its stake in Canadian Solar by 494.4% in the 3rd quarter. Barclays PLC now owns 115,328 shares of the solar energy provider's stock valued at $1,932,000 after purchasing an additional 95,924 shares during the last quarter. Waterfront Wealth Inc. grew its holdings in shares of Canadian Solar by 16.9% during the fourth quarter. Waterfront Wealth Inc. now owns 185,175 shares of the solar energy provider's stock worth $2,059,000 after buying an additional 26,778 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Canadian Solar by 59.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 180,792 shares of the solar energy provider's stock worth $2,010,000 after buying an additional 67,331 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. acquired a new stake in shares of Canadian Solar in the fourth quarter valued at about $7,738,000. Finally, Sciencast Management LP purchased a new position in shares of Canadian Solar in the fourth quarter worth about $113,000. Hedge funds and other institutional investors 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.