Canadian Solar (CSIQ) Scheduled to Post Earnings on Thursday

Canadian Solar (NASDAQ:CSIQ) is set to release its earnings data before the market opens on Thursday, May 9th. Analysts expect Canadian Solar to post earnings of ($0.26) per share for the quarter. Canadian Solar has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Persons interested in listening to the company’s conference call can do so using this link.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, March 14th. The solar energy provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.69 billion. Canadian Solar had a net margin of 3.60% and a return on equity of 8.31%. The firm’s quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.11 EPS. On average, analysts expect Canadian Solar to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Canadian Solar Price Performance

Canadian Solar stock opened at $16.35 on Thursday. The firm has a market cap of $1.08 billion, a PE ratio of 4.21, a price-to-earnings-growth ratio of 0.26 and a beta of 1.26. Canadian Solar has a 52-week low of $14.11 and a 52-week high of $45.29. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $18.45 and its two-hundred day moving average is $20.98.

Analyst Upgrades and Downgrades

CSIQ has been the topic of a number of research reports. StockNews.com upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Daiwa Capital Markets began coverage on shares of Canadian Solar in a report on Monday, March 11th. They issued a “neutral” rating and a $21.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on shares of Canadian Solar from $28.00 to $24.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. Wells Fargo & Company dropped their target price on shares of Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 19th. Finally, Citigroup dropped their target price on shares of Canadian Solar from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.78.

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.