Canadian Solar (CSIQ) Stock Forecast, Price & News

7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Canadian Solar in the last year. There are currently 3 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" CSIQ shares.
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7 brokerages have issued 12-month price targets for Canadian Solar's stock. Their CSIQ share price forecasts range from $30.00 to $68.00. On average, they expect the company's stock price to reach $46.14 in the next twelve months. This suggests a possible upside of 78.8% from the stock's current price.
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Canadian Solar's stock was trading at $30.90 at the beginning of the year. Since then, CSIQ stock has decreased by 16.5% and is now trading at $25.81.
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Canadian Solar saw a increase in short interest during the month of August. As of August 31st, there was short interest totaling 4,290,000 shares, an increase of 10.0% from the August 15th total of 3,900,000 shares. Based on an average daily volume of 1,270,000 shares, the days-to-cover ratio is currently 3.4 days. Approximately 8.4% of the shares of the stock are sold short.
View Canadian Solar's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 28th 2023.
View our CSIQ earnings forecast.

Canadian Solar Inc. (NASDAQ:CSIQ) announced its earnings results on Tuesday, August, 22nd. The solar energy provider reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.52 by $0.87. The solar energy provider earned $2.36 billion during the quarter, compared to analysts' expectations of $2.49 billion. Canadian Solar had a trailing twelve-month return on equity of 15.92% and a net margin of 5.14%. The firm's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 EPS.

ETFs with the largest weight of Canadian Solar (NASDAQ:CSIQ) stock in their portfolio include SmartETFs Sustainable Energy II ETF (SOLR), ProShares S&P Kensho Cleantech ETF (CTEX), Subversive Decarbonization ETF (DKRB), Invesco Solar ETF (TAN), Neuberger Berman Carbon Transition & Infrastructure ETF (NBCT), SoFi Smart Energy ETF (SHFT), SoFi Smart Energy ETF (ENRG) and SPDR S&P Kensho Clean Power ETF (CNRG).

Canadian Solar issued an update on its third quarter 2023 earnings guidance on Wednesday, August, 23rd. The company provided EPS guidance of for the period. The company issued revenue guidance of $1.90 billion-$2.10 billion, compared to the consensus revenue estimate of $2.47 billion.

55 employees have rated Canadian Solar Chief Executive Officer Shawn X. Qu on Glassdoor.com. Shawn X. Qu has an approval rating of 74% among the company's employees. 58.0% of employees surveyed would recommend working at Canadian Solar to a friend.

Based on aggregate information from My MarketBeat watchlists, some companies that other Canadian Solar investors own include Micron Technology (MU), First Solar (FSLR), Tesla (TSLA), Gilead Sciences (GILD), Intel (INTC), NVIDIA (NVDA), Alibaba Group (BABA), Netflix (NFLX), Advanced Micro Devices (AMD) and SunPower (SPWR).

Canadian Solar trades on the NASDAQ under the ticker symbol "CSIQ."

Canadian Solar's stock is owned by many different institutional and retail investors. Top institutional investors include BlackRock Inc. (7.54%), Mackenzie Financial Corp (3.85%), Handelsbanken Fonder AB (2.84%), Schroder Investment Management Group (1.83%), Guinness Asset Management LTD (1.61%) and Acadian Asset Management LLC (1.15%).

Shares of CSIQ stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CSIQ stock can currently be purchased for approximately $25.81.

Canadian Solar (NASDAQ:CSIQ) has a market capitalization of $1.67 billion and generates $7.47 billion in revenue each year. The solar energy provider earns $239.97 million in net income (profit) each year or $5.81 on an earnings per share basis.

The company employs 18,423 workers across the globe.

Canadian Solar's mailing address is 545 SPEEDVALE AVENUE WEST GUELPH, ONTARIO A6, N1K 1E6. The official website for the company is www.canadiansolar.com. The solar energy provider can be reached via phone at (519) 837-1881, via email at investor@canadiansolar.com, or via fax at 519-837-2550.