Canadian Solar (CSIQ) Stock Forecast, Price & News

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Canadian Solar in the last twelve months. There are currently 1 sell rating, 3 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" CSIQ shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CSIQ, but not buy additional shares or sell existing shares.
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5 analysts have issued 12 month price targets for Canadian Solar's shares. Their CSIQ share price forecasts range from $36.00 to $68.00. On average, they anticipate the company's stock price to reach $47.20 in the next twelve months. This suggests a possible upside of 12.5% from the stock's current price.
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Canadian Solar's stock was trading at $30.90 on January 1st, 2023. Since then, CSIQ stock has increased by 35.8% and is now trading at $41.97.
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Canadian Solar saw a decrease in short interest in May. As of May 15th, there was short interest totaling 3,560,000 shares, a decrease of 7.0% from the April 30th total of 3,830,000 shares. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is presently 3.4 days. Approximately 7.0% of the company's shares are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, August 17th 2023.
View our CSIQ earnings forecast.

Canadian Solar Inc. (NASDAQ:CSIQ) announced its quarterly earnings data on Thursday, May, 18th. The solar energy provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.71. The solar energy provider earned $1.70 billion during the quarter, compared to analyst estimates of $1.71 billion. Canadian Solar had a net margin of 3.97% and a trailing twelve-month return on equity of 14.02%. The business's quarterly revenue was up 36.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS.

ETFs with the largest weight of Canadian Solar (NASDAQ:CSIQ) stock in their portfolio include ProShares S&P Kensho Cleantech ETF (CTEX), SmartETFs Sustainable Energy II ETF (SOLR), SPDR S&P Kensho Clean Power ETF (CNRG), Neuberger Berman Carbon Transition & Infrastructure ETF (NBCT), Invesco Solar ETF (TAN), AXS Green Alpha ETF (NXTE), Global X Clean Tech ETF (CTEC) and Fidelity Clean Energy ETF (FRNW).

Canadian Solar updated its second quarter 2023 earnings guidance on Friday, May, 26th. The company provided earnings per share guidance of for the period. The company issued revenue guidance of $2.40 billion-$2.60 billion, compared to the consensus revenue estimate of $2.31 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 a variety of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (7.39%), Grantham Mayo Van Otterloo & Co. LLC (4.56%), Mackenzie Financial Corp (3.22%), Handelsbanken Fonder AB (2.92%), Group One Trading L.P. (0.00%) and Guinness Asset Management LTD (1.61%).

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 $41.97.

Canadian Solar (NASDAQ:CSIQ) has a market capitalization of $2.71 billion and generates $7.92 billion in revenue each year. The solar energy provider earns $239.97 million in net income (profit) each year or $4.49 on an earnings per share basis.

The company employs 13,535 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.