Zacks Research Forecasts Reduced Earnings for Canadian Solar

Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) - Stock analysts at Zacks Research cut their FY2027 earnings per share estimates for shares of Canadian Solar in a research report issued to clients and investors on Thursday, June 5th. Zacks Research analyst R. Department now forecasts that the solar energy provider will post earnings of $1.69 per share for the year, down from their prior 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 stock. Wall Street Zen raised shares of Canadian Solar from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. The Goldman Sachs Group boosted their target price on Canadian Solar from $8.00 to $9.00 and gave the stock a "sell" 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 target price for the company in a research report on Thursday, April 17th. Roth Capital set a $11.00 price target on Canadian Solar and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Wells Fargo & Company boosted their price objective on Canadian Solar from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Friday, May 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $16.58.

Canadian Solar Stock Up 1.1%

Canadian Solar stock opened at $11.24 on Monday. The stock has a market cap of $752.77 million, a price-to-earnings ratio of -93.67, a PEG ratio of 0.74 and a beta of 1.38. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The company's 50-day moving average price is $9.21 and its two-hundred day moving average price is $10.37. Canadian Solar has a 52 week low of $6.57 and a 52 week high of $19.55.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Canadian Solar during the 1st quarter worth $39,000. Wells Fargo & Company MN lifted its holdings in shares of Canadian Solar by 184.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock valued at $57,000 after purchasing an additional 3,347 shares during the last quarter. Summit Securities Group LLC boosted its position in shares of Canadian Solar by 598.5% in the 1st quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider's stock valued at $61,000 after purchasing an additional 6,015 shares during the period. Sciencast Management LP acquired a new position in shares of Canadian Solar in the 4th quarter valued at $113,000. Finally, Templeton & Phillips Capital Management LLC increased its stake in Canadian Solar by 14.6% in the 1st quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider's stock worth $125,000 after purchasing an additional 1,843 shares in the last quarter. 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.

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