Canadian Solar (NASDAQ:CSIQ) Releases Quarterly Earnings Results, Misses Estimates By $1.26 EPS

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

Canadian Solar Stock Down 3.8 %

Shares of NASDAQ:CSIQ traded down $0.36 during mid-day trading on Friday, hitting $9.23. 1,878,199 shares of the company traded hands, compared to its average volume of 1,851,608. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average price of $10.26 and a two-hundred day moving average price of $12.04. Canadian Solar has a 12-month low of $9.13 and a 12-month high of $21.05. The stock has a market cap of $610.65 million, a P/E ratio of -76.92, a P/E/G ratio of 0.74 and a beta of 1.34.

Analyst Ratings Changes

A number of equities analysts have commented on CSIQ shares. Wells Fargo & Company reduced their price target on shares of Canadian Solar from $13.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 8th. StockNews.com cut Canadian Solar from a "hold" rating to a "sell" rating in a research note on Friday, January 31st. Citigroup reduced their price target 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. The Goldman Sachs Group lowered their target price on Canadian Solar from $11.00 to $9.00 and set a "sell" rating for the company in a research note on Wednesday. Finally, Mizuho assumed coverage on Canadian Solar in a research report on Friday, December 13th. They set an "outperform" rating and a $20.00 price objective for the company. Five analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $17.84.

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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.