Canadian Solar (CSIQ) to Release Quarterly Earnings on Thursday

Canadian Solar (NASDAQ:CSIQ) is scheduled to announce its earnings results before the market opens on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.26) per share for the quarter. Canadian Solar has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Thursday, March 14th. The solar energy provider reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.11. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.69 billion. Canadian Solar had a return on equity of 8.31% and a net margin of 3.60%. Canadian Solar’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.11 EPS. On average, analysts expect Canadian Solar to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Canadian Solar Stock Performance

Shares of CSIQ stock opened at $17.56 on Wednesday. The company has a market capitalization of $1.16 billion, a P/E ratio of 4.53, a price-to-earnings-growth ratio of 0.26 and a beta of 1.29. Canadian Solar has a 52 week low of $14.11 and a 52 week high of $45.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.04. The company’s 50 day moving average price is $17.99 and its two-hundred day moving average price is $20.80.

Analysts Set New Price Targets

Several analysts have issued reports on CSIQ shares. Wells Fargo & Company dropped their price target on Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 19th. Citigroup cut their target price on Canadian Solar from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. The Goldman Sachs Group decreased their price target on shares of Canadian Solar from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Daiwa Capital Markets started coverage on shares of Canadian Solar in a report on Monday, March 11th. They set a “neutral” rating and a $21.00 target price for the company. Finally, StockNews.com raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $31.78.

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.