Canadian Solar FY2027 EPS Forecast Reduced by Zacks Research

Canadian Solar Inc. (NASDAQ:CSIQ) – Stock analysts at Zacks Research dropped their FY2027 earnings per share estimates for shares of Canadian Solar in a research note issued on Thursday, June 5th. Zacks Research analyst R. Department now forecasts that the solar energy provider will earn $1.69 per share for the year, down from their previous estimate of $1.73. The consensus estimate for Canadian Solar’s current full-year earnings is ($0.23) per share.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, May 15th. The solar energy provider reported ($1.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.50) by $0.43. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS.

CSIQ has been the topic of several other reports. Wall Street Zen raised Canadian Solar from a “sell” rating to a “hold” rating in a report on Friday, May 16th. Wells Fargo & Company increased their price target on Canadian Solar from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Friday, May 16th. Mizuho lowered their price target on Canadian Solar from $17.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday, June 2nd. Citigroup raised Canadian Solar from a “sell” rating to a “neutral” rating and set a $8.00 price target on the stock in a report on Thursday, April 17th. Finally, Roth Capital set a $11.00 price target on Canadian Solar and gave the company a “neutral” rating in a report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.58.

Canadian Solar Price Performance

NASDAQ CSIQ opened at $11.03 on Monday. The business’s fifty day moving average price is $9.25 and its 200-day moving average price is $10.37. The stock has a market capitalization of $738.70 million, a price-to-earnings ratio of -91.92, a PEG ratio of 0.74 and a beta of 1.38. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. Canadian Solar has a 1-year low of $6.57 and a 1-year high of $19.55.

Hedge Funds Weigh In On Canadian Solar

A number of institutional investors have recently bought and sold shares of CSIQ. Charles Schwab Investment Management Inc. increased its stake in Canadian Solar by 59.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,792 shares of the solar energy provider’s stock worth $2,010,000 after buying an additional 67,331 shares in the last quarter. Barclays PLC increased its stake in Canadian Solar by 494.4% in the 3rd quarter. Barclays PLC now owns 115,328 shares of the solar energy provider’s stock worth $1,932,000 after buying an additional 95,924 shares in the last quarter. Waterfront Wealth Inc. increased its stake in Canadian Solar by 16.9% in the 4th quarter. Waterfront Wealth Inc. now owns 185,175 shares of the solar energy provider’s stock worth $2,059,000 after buying an additional 26,778 shares in the last quarter. Wells Fargo & Company MN increased its stake in Canadian Solar by 184.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider’s stock worth $57,000 after buying an additional 3,347 shares in the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. purchased a new stake in Canadian Solar in the 4th quarter worth $7,738,000. 52.36% of the stock is owned by institutional investors.

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.