Analysts’ Recent Ratings Changes for Canadian Solar (CSIQ)

A number of research firms have changed their ratings and price targets for Canadian Solar (NASDAQ: CSIQ):

• 12/13/2024 – Canadian Solar is now covered by analysts at Mizuho. They set an “outperform” rating and a $20.00 price target on the stock.
• 12/9/2024 – Canadian Solar was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 12/5/2024 – Canadian Solar had its price target lowered by analysts at Wells Fargo & Company from $15.00 to $13.00. They now have an “equal weight” rating on the stock.
• 11/22/2024 – Canadian Solar is now covered by analysts at Jefferies Financial Group Inc.. They set a “buy” rating and a $14.15 price target on the stock.
• 10/22/2024 – Canadian Solar was downgraded by analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating. They now have a $11.00 price target on the stock, down previously from $19.00.

Canadian Solar Trading Up 2.4 %

CSIQ traded up $0.30 during trading hours on Friday, reaching $12.68. The company’s stock had a trading volume of 1,388,483 shares, compared to its average volume of 1,740,035. Canadian Solar Inc. has a fifty-two week low of $10.91 and a fifty-two week high of $26.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. The stock has a market cap of $838.91 million, a PE ratio of -105.67, a P/E/G ratio of 8.89 and a beta of 1.29. The business’s 50-day moving average is $13.06 and its 200-day moving average is $14.58.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm’s revenue was down 18.4% compared to the same quarter last year. As a group, equities research analysts predict that Canadian Solar Inc. will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Solar

Large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp increased its holdings in Canadian Solar by 25.4% in the second quarter. Mackenzie Financial Corp now owns 5,115,665 shares of the solar energy provider’s stock valued at $75,456,000 after buying an additional 1,037,800 shares during the last quarter. Foundry Partners LLC acquired a new position in shares of Canadian Solar during the 2nd quarter worth about $3,667,000. Private Advisor Group LLC purchased a new position in shares of Canadian Solar in the 3rd quarter valued at about $219,000. Cerity Partners LLC raised its position in shares of Canadian Solar by 131.5% during the 3rd quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider’s stock worth $7,186,000 after acquiring an additional 243,542 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Canadian Solar during the third quarter worth approximately $1,109,000. Hedge funds and other institutional investors own 52.36% of the company’s stock.

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.