Canadian Solar Inc. (NASDAQ:CSIQ) Receives Average Recommendation of “Reduce” from Analysts

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have earned a consensus recommendation of “Reduce” from the ten analysts that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $11.8938.

Several equities research analysts have recently issued reports on CSIQ shares. Mizuho lowered their target price on shares of Canadian Solar from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, August 22nd. Wells Fargo & Company decreased their price objective on shares of Canadian Solar from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Wednesday, September 3rd. Citigroup reiterated a “sell” rating and set a $11.00 price objective on shares of Canadian Solar in a report on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Canadian Solar in a report on Friday. Finally, Wall Street Zen upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a report on Friday, September 26th.

Institutional Investors Weigh In On Canadian Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSIQ. Raymond James Financial Inc. bought a new stake in shares of Canadian Solar in the 2nd quarter valued at about $33,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Canadian Solar in the 1st quarter valued at about $39,000. Summit Securities Group LLC raised its holdings 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 in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Canadian Solar by 38.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 8,094 shares of the solar energy provider’s stock valued at $89,000 after purchasing an additional 2,254 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Canadian Solar by 141.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 9,100 shares of the solar energy provider’s stock valued at $100,000 after purchasing an additional 5,338 shares in the last quarter. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Price Performance

Canadian Solar stock opened at $15.00 on Monday. The firm has a 50-day moving average price of $12.69 and a 200-day moving average price of $11.43. The firm has a market capitalization of $1.00 billion, a PE ratio of -25.00 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 0.87 and a debt-to-equity ratio of 0.98. Canadian Solar has a 12-month low of $6.57 and a 12-month high of $17.07.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, August 21st. The solar energy provider reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($1.29). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.90 billion. Canadian Solar had a negative return on equity of 4.97% and a negative net margin of 0.12%.Canadian Solar’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Canadian Solar will post -0.23 EPS for the current year.

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.