Canadian Solar (NASDAQ:CSIQ) Issues Earnings Results, Beats Estimates By $0.69 EPS

Canadian Solar (NASDAQ:CSIQ) issued its earnings results on Tuesday. The solar energy provider reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.69, Briefing.com 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 firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.02) earnings per share. Canadian Solar updated its Q1 2025 guidance to EPS and its FY 2025 guidance to EPS.

Canadian Solar Price Performance

Shares of Canadian Solar stock opened at $9.70 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65. Canadian Solar has a 52 week low of $9.19 and a 52 week high of $21.05. The stock’s 50-day simple moving average is $10.39 and its 200-day simple moving average is $12.11. The company has a market capitalization of $641.74 million, a price-to-earnings ratio of -80.83, a PEG ratio of 0.74 and a beta of 1.34.

Analysts Set New Price Targets

CSIQ has been the topic of a number of research reports. StockNews.com downgraded Canadian Solar from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. The Goldman Sachs Group downgraded Canadian Solar from a “neutral” rating to a “sell” rating and cut their price target for the company from $14.00 to $11.00 in a research note on Tuesday, December 17th. Mizuho initiated coverage on shares of Canadian Solar in a research report on Friday, December 13th. They set an “outperform” rating and a $20.00 price target for the company. Finally, Wells Fargo & Company dropped their price objective on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Five research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.04.

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.