Zacks Research Reduces Earnings Estimates for Canadian Solar

Canadian Solar Inc. (NASDAQ:CSIQ - Free Report) - Zacks Research reduced their FY2027 EPS estimates for Canadian Solar in a research report issued to clients and investors on Thursday, July 3rd. Zacks Research analyst R. Department now anticipates that the solar energy provider will earn $1.68 per share for the year, down from their previous estimate of $1.69. The consensus estimate for Canadian Solar's current full-year earnings is ($0.23) per share.

Several other analysts also recently issued reports on the stock. Wall Street Zen raised shares of Canadian Solar from a "sell" rating to a "hold" rating in a report on Friday, May 16th. The Goldman Sachs Group increased their target price on Canadian Solar from $8.00 to $9.00 and gave the company a "sell" rating in a report on Friday, May 16th. Wells Fargo & Company upped their price objective on Canadian Solar from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th. Roth Capital set a $11.00 price objective on Canadian Solar and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, Citigroup upgraded shares of Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 target price on the stock in a report on Thursday, April 17th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Canadian Solar presently has a consensus rating of "Hold" and a consensus target price of $14.74.

Canadian Solar Trading Up 0.0%

NASDAQ:CSIQ opened at $12.46 on Friday. The company has a market capitalization of $834.11 million, a PE ratio of -24.91 and a beta of 1.38. Canadian Solar has a 52-week low of $6.57 and a 52-week high of $19.55. The stock has a fifty day simple moving average of $10.46 and a 200-day simple moving average of $10.22. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.84.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The solar energy provider reported ($1.07) EPS for the quarter, topping the consensus estimate of ($1.50) by $0.43. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.11 billion. Canadian Solar had a negative return on equity of 4.34% and a negative net margin of 0.18%. The company's quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 EPS.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Templeton & Phillips Capital Management LLC raised its holdings in Canadian Solar by 14.6% in the first quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider's stock valued at $125,000 after buying an additional 1,843 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Canadian Solar by 11.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 21,874 shares of the solar energy provider's stock worth $189,000 after buying an additional 2,217 shares during the period. Robotti Robert increased its position in shares of Canadian Solar by 0.6% in the first quarter. Robotti Robert now owns 490,880 shares of the solar energy provider's stock worth $4,246,000 after acquiring an additional 3,000 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Canadian Solar by 184.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider's stock valued at $57,000 after acquiring an additional 3,347 shares during the period. Finally, Shell Asset Management Co. raised its stake in shares of Canadian Solar by 11.4% in the 4th quarter. Shell Asset Management Co. now owns 40,499 shares of the solar energy provider's stock valued at $450,000 after acquiring an additional 4,134 shares during the period. 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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