Canadian Solar (NASDAQ:CSIQ) Issues Quarterly Earnings Results

Canadian Solar (NASDAQ:CSIQ) issued its quarterly earnings data on Tuesday. The solar energy provider reported ($1.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.26), Zacks reports. The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share. Canadian Solar updated its Q1 2025 guidance to EPS and its FY 2025 guidance to EPS.

Canadian Solar Stock Up 1.8 %

Shares of NASDAQ CSIQ opened at $9.94 on Thursday. Canadian Solar has a 52-week low of $9.19 and a 52-week high of $21.05. The firm has a market capitalization of $657.62 million, a price-to-earnings ratio of -82.83, a PEG ratio of 0.74 and a beta of 1.34. The stock has a 50 day moving average price of $10.33 and a 200 day moving average price of $12.08. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06.

Analyst Ratings Changes

CSIQ has been the topic of several recent research reports. Mizuho assumed coverage on Canadian Solar in a report on Friday, December 13th. They set an “outperform” rating and a $20.00 price target on the stock. Wells Fargo & Company reduced their target price on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group dropped their price target on shares of Canadian Solar from $11.00 to $9.00 and set a “sell” rating for the company in a research note on Wednesday. Citigroup reduced their price objective on shares of Canadian Solar from $12.00 to $11.00 and set a “sell” rating on the stock in a research report on Wednesday. Finally, StockNews.com downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.84.

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.