Canadian Solar Inc. (NASDAQ:CSIQ) Receives Average Rating of “Hold” from Brokerages

Canadian Solar Inc. (NASDAQ:CSIQ) has received a consensus rating of “Hold” from the ten ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $11.6438.

CSIQ has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Canadian Solar from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, September 19th. Citigroup decreased their price objective on Canadian Solar from $12.50 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, August 21st. Mizuho decreased their price objective on Canadian Solar from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, August 22nd. Wall Street Zen raised Canadian Solar from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, UBS Group decreased their price objective on Canadian Solar from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th.

Canadian Solar Trading Down 0.7%

Shares of CSIQ opened at $15.10 on Thursday. Canadian Solar has a 12-month low of $6.57 and a 12-month high of $19.55. The company has a quick ratio of 0.87, a current ratio of 1.09 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -25.17 and a beta of 1.28. The stock’s 50-day moving average price is $11.84 and its 200 day moving average price is $10.82.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly 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). Canadian Solar had a negative net margin of 0.12% and a negative return on equity of 4.97%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. Canadian Solar has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts predict that Canadian Solar will post -0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CSIQ. IvyRock Asset Management HK Ltd boosted its holdings in shares of Canadian Solar by 87.8% in the 1st quarter. IvyRock Asset Management HK Ltd now owns 2,607,700 shares of the solar energy provider’s stock worth $22,557,000 after acquiring an additional 1,219,200 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. boosted its holdings in shares of Canadian Solar by 60.4% in the 1st quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,115,861 shares of the solar energy provider’s stock worth $9,652,000 after acquiring an additional 420,000 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Canadian Solar by 7.4% in the 2nd quarter. Mackenzie Financial Corp now owns 5,884,865 shares of the solar energy provider’s stock worth $64,969,000 after acquiring an additional 405,800 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Canadian Solar by 21.7% in the 2nd quarter. Legal & General Group Plc now owns 1,815,113 shares of the solar energy provider’s stock worth $20,039,000 after acquiring an additional 324,254 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Canadian Solar by 15.5% in the 1st quarter. Invesco Ltd. now owns 2,311,596 shares of the solar energy provider’s stock worth $19,995,000 after acquiring an additional 310,564 shares in the last quarter. 52.36% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Company Profile

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.