Canadian Solar (NASDAQ:CSIQ) Azioni

Canadian Solar

Canadian Solar Inc is a Canadian solar power company. It is an integrated provider of solar power products, services, and system solutions. The company engages in designing, developing, and manufacturing solar ingots, wafers, cells, modules, and other solar power products. It operates through two business segments CSI Solar and Recurrent Energy segment. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products. Its Recurrent segment primarily comprises solar and battery storage project development and sale, O&M and asset management services for operational projects, sale of electricity, and investment in retained assets.

Canadian Solar Inc

News

CSIQ

Canadian Solar Launches Anti-Hail Technology In Australia With Flow Power's Coonawarra Solar Project

Goldman Sachs analyst Brian Lee maintains Canadian Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) with a Sell and lowers the price target from $11 to $9.

Price Target

Analyst Ratings

Goldman Sachs Maintains Sell on Canadian Solar, Lowers Price Target to $9

Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) reported <a target="_blank" href="https://seekingalpha.com/pr/20044290-canadian-solar-reports-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener">fourth-quarter 2024 results</a> on Tuesday, with a net revenue decline of 10.6% year-over-year to $1.52 billion, below the consensus of $1.57 billion.
The decrease was mainly due to lower solar module average selling prices, partially balanced by increased battery storage and project sales.
Gross profit was $217 million, up 2% year over year. On stronger battery and project sales, gross margin improved to 14.3% from 12.5% year over year.
Total module shipments recognized as revenue reached 8.2 GW, a decline of 2% sequentially and an increase of 1% YoY. This total includes 401 MW delivered to the company&#8217;s utility-scale solar projects.
Operating expenses rose to $344 million, up from $213 million YoY, mainly due to impairment charges and higher shipping costs.
Related: <a target="_blank" href="https://www.benzinga.com/25/03/44452217/canadian-solar-gears-up-for-q4-print-here-are-the-recent-forecast-changes-from-wall-streets-most-accurate-analysts" rel="noreferrer noopener">Canadian Solar Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street&#8217;s Most Accurate Analysts</a>
Canadian Solar reported an adjusted net loss of $99 million, or $1.47 per share, missing the EPS consensus of $0.11.
The company generated $66 million in operating cash flow for the quarter. Total debt stood at $5.2 billion as of December 31, 2024, with $2.4 billion from CSI Solar, $2.6 billion from Recurrent Energy, and $0.2 billion in convertible notes.
As of December 31, 2024, Recurrent Energy&#8217;s solar project development pipeline totaled 24.9 GWp, including 1.9 GWp under construction, 4.2 GWp in backlog, and 18.8 GWp in advanced and early-stage development. Additionally, the e-STORAGE pipeline expanded to 79 GWh, with $3.2 billion in contracted backlog.
Shawn Qu, Chairman and CEO, commented, &#8220;2024 was a challenging year for the solar industry, with intense competition and ongoing policy and trade-related uncertainties creating operational and financial headwinds. Despite these industry-wide pressures, our modules business executed targeted strategic adjustments, enabling us to maintain relatively stronger profitability compared to the broader market.&#8221;
&#8220;Energy storage was a key profitability driver, as we delivered both quarterly and full year shipment records. While we anticipate margin normalization in this segment, our priority remains scaling volume and further diversifying our global footprint. With our largest-ever pipeline and a robust contracted backlog, we have strong visibility into future growth,&#8221; commented Yan Zhuang, President of Canadian Solar&#8217;s subsidiary CSI Solar.
Q1 Outlook: Canadian Solar expects total revenue of $1.0 billion—$1.2 billion, versus a consensus estimate of $1.593 billion, and anticipates a gross margin of 9 – 11%.
The company expects total module shipments recognized as revenues by CSI Solar to be 6.4 to 6.7 GW. Battery energy storage shipments are expected to reach ~800 MWh, with ~150 MWh allocated to the company&#8217;s projects.
Shawn Qu, Chairman, and CEO, mentioned, &#8220;First quarter margins will be impacted by lower contribution from our storage business due to seasonally smaller shipment volumes, trade-related duties, and tariffs. Additionally, softer margins from Recurrent project asset sales will weigh on segment performance. Amid ongoing consolidation in the solar market, we remain committed to prioritizing profitability over volume.&#8221;
2025 Outlook reaffirmed: CSIQ expects total module shipments to be 30 GW to 35 GW and CSI Solar&#8217;s total battery energy storage shipments in the range of 11 GWh to 13 GWh, including approximately 1 GW and 1 GWh, respectively, to the company&#8217;s projects.
The company&#8217;s total revenue is expected to be in the range of&nbsp;$7.3 billion&nbsp;&#8211;&nbsp;$8.3 billion versus the $7.375 billion consensus.
Price Action: CSIQ shares traded lower by 0.41% at $9.665 at the last check Tuesday.
Image via Shutterstock.

Earnings

Equities

Guidance

Canadian Solar Posts Wider Q4 Loss, Reaffirms 2025 Outlook Amid Fierce Industry Headwinds

Canadian Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) reported quarterly losses of $(1.47) per share. The company reported quarterly sales of $1.520 billion which missed the analyst consensus estimate of $1.572 billion by 3.28 percent. This is a 10.69 percent decrease over sales of $1.702 billion the same period last year.

Earnings Misses

CORRECTION: Canadian Solar Q4 2024 Adj. EPS $(1.47) Miss $(0.24) Estimate, Sales $1.520B Miss $1.572B Estimate

Canadian Solar Expects Q1 Margins To Be Impacted By Lower Contribution From Storage Business Due To Seasonally Smaller Shipment Volumes, Trade-related Duties And Tariffs

For the full year of 2025, the Company reiterates its prior outlook for CSI Solar's total module shipments to be in the range of 30 GW to 35 GW, including approximately 1 GW to the Company's projects. The Company also reiterates its prior outlook for CSI Solar's total battery energy storage shipments, projected to be in the range of 11 GWh to 13 GWh, including approximately 1 GWh to the Company's own projects.&nbsp;
&nbsp;

Canadian Solar Expects FY25 Total Revenue Of $7.3B - $8.3B, Est $7.375B

Gross margin is expected to be between 9% and 11%. Total module shipments recognized as revenues by CSI Solar are expected to be in the range of 6.4 GW to 6.7 GW, including approximately 400 MW to the Company's own projects. Total battery energy storage shipments by CSI Solar in the first quarter of 2025 are expected to be around 800 MWh, including about 150 MWh to the Company's own projects.

Canadian Solar Expects Q1 Total Revenue Of $1B - $1.2B, Est $1.593B

<h3>Companies Reporting Before The Bell</h3>
• PAVmed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAVM#NASDAQ">PAVM</a>) is expected to report earnings for its fourth quarter. 
• BiomX (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/PHGE#AMEX">PHGE</a>) is projected to report earnings for its fourth quarter. 
• Sanara MedTech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTI#NASDAQ">SMTI</a>) is projected to report quarterly loss at $0.19 per share on revenue of $25.90 million. 
• Cormedix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) is projected to report quarterly earnings at $0.14 per share on revenue of $28.34 million. 
• McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) is estimated to report quarterly earnings at $0.64 per share on revenue of $1.61 billion. 
• Super Hi International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HDL#NASDAQ">HDL</a>) is estimated to report quarterly earnings at $0.17 per share on revenue of $212.06 million. 
• Rumble (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUM#NASDAQ">RUM</a>) is likely to report quarterly loss at $0.13 per share on revenue of $30.41 million. 
• Atour Lifestyle Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATAT#NASDAQ">ATAT</a>) is estimated to report quarterly earnings at $0.30 per share on revenue of $272.21 million. 
• Canadian Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) is projected to report quarterly loss at $0.24 per share on revenue of $1.57 billion. 
• Atossa Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATOS#NASDAQ">ATOS</a>) is estimated to report earnings for its fourth quarter. 
• Verb Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERB#NASDAQ">VERB</a>) is likely to report quarterly loss at $2.52 per share on revenue of $200 thousand. 
• ACCESS Newswire (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/ACCS#AMEX">ACCS</a>) is projected to report quarterly earnings at $0.23 per share on revenue of $7.38 million. 
• Nano Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NA#NASDAQ">NA</a>) is expected to report earnings for its Fiscal Year 2024. 
• 17 Education &amp; Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YQ#NASDAQ">YQ</a>) is expected to report earnings for its fourth quarter. 
• BitFuFu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUFU#NASDAQ">FUFU</a>) is projected to report quarterly loss at $0.03 per share on revenue of $99.28 million. 
• Core &amp; Main (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNM#NYSE">CNM</a>) is likely to report quarterly earnings at $0.36 per share on revenue of $1.67 billion. 
• X4 Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XFOR#NASDAQ">XFOR</a>) is projected to report quarterly loss at $0.16 per share on revenue of $1.06 million. 
• Pony AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>) is expected to report earnings for its fourth quarter. 
• Viomi Technology Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIOT#NASDAQ">VIOT</a>) is likely to report earnings for its Fiscal Year 2024. 
<h3>Companies Reporting After The Bell</h3>
• Kolibri Global Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KGEI#NASDAQ">KGEI</a>) is estimated to report quarterly earnings at $0.14 per share on revenue of $17.89 million. 
• Worthington Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOR#NYSE">WOR</a>) is expected to report quarterly earnings at $0.70 per share on revenue of $289.09 million. 
• CarParts.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTS#NASDAQ">PRTS</a>) is projected to report quarterly loss at $0.19 per share on revenue of $137.49 million. 
• Beta Bionics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BBNX#NASDAQ">BBNX</a>) is projected to report quarterly loss at $0.42 per share on revenue of $20.01 million. 
• Investcorp Credit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICMB#NASDAQ">ICMB</a>) is expected to report quarterly earnings at $0.11 per share on revenue of $5.45 million. 
• GameStop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) is likely to report quarterly earnings at $0.08 per share on revenue of $1.48 billion. 
• Corvus Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRVS#NASDAQ">CRVS</a>) is projected to report earnings for its fourth quarter. 
• ATA Creativity Glb (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AACG#NASDAQ">AACG</a>) is expected to report earnings for its fourth quarter. 
• Noah Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOAH#NYSE">NOAH</a>) is projected to report earnings for its fourth quarter. 
• Surgepays (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SURG#NASDAQ">SURG</a>) is likely to report quarterly loss at $0.22 per share on revenue of $8.22 million. 
• GCT Semiconductor Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCTS#NYSE">GCTS</a>) is expected to report quarterly loss at $0.15 per share on revenue of $2.03 million. 
• PaySign (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAYS#NASDAQ">PAYS</a>) is expected to report quarterly earnings at $0.03 per share on revenue of $15.42 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For March 25, 2025

Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) will release its first-quarter financial results, before the <a href="https://www.benzinga.com/quote/CSIQ/earnings">opening bell, on Tuesday, March 25.</a>
Analysts expect the Guelph, Canada-based company to report quarterly earnings at 11 cents per share, versus a year-ago loss of 2 cents per share. Canadian Solar projects quarterly revenue of $1.57 billion, compared to $1.7 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On March 6, Canadian Solar said it secured Battery Supply Agreements and Long-Term Service Agreements for two major battery energy storage projects in the United States, developed by Aypa Power.
Canadian Solar shares fell 1.9% to close at $9.96 on Friday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/CSIQ/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Wells Fargo analyst Michael Blum maintained an Equal-Weight rating and cut the price target from $13 to $10 on Jan. 8, 2025. This analyst has an accuracy rate of 68%.</li>
<li>GLJ Research analyst Gordon Johnson maintained a Sell rating and raised the price target from $9.1 to $12.28 on July 30, 2024. This analyst has an accuracy rate of 65%.</li>
<li>UBS analyst Jon Windham maintained a Buy rating and cut the price target from $38 to $35 on June 12, 2024. This analyst has an accuracy rate of 60%.</li>
</ul>
<ul>
<li>Edge Stock Ratings:&nbsp;12.68 Momentum score with Value at 85.28.<a href="https://www.benzinga.com/quote/CCU" target="_blank" rel="noreferrer noopener"></a></li>
</ul>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="468" height="181" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/24030243/image-207.png" alt="" class="wp-image-837668" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/24030243/image-207.png 468w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/24030243/image-207-300x116.png 300w" sizes="(max-width: 468px) 100vw, 468px" /></figure>
Want Edge Stock Rankings on this stock?&nbsp;<a href="https://www.benzinga.com/quote/CELH" target="_blank" rel="noreferrer noopener">Become an Edge subscriber here</a>
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Photo: Shutterstock

Markets

Trading Ideas

Canadian Solar Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

&nbsp;<a href="https://www.canadiansolar.com/">Canadian Solar Inc</a>. (the "Company" or "Canadian Solar") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) today announced that <a href="https://csestorage.com/">e-STORAGE</a>, which is part of the Company's majority-owned subsidiary CSI Solar Co., Ltd. (CSI Solar), has secured Battery Supply Agreements and Long-Term Service Agreements&nbsp;(LTSA)&nbsp;for two major battery energy storage projects in the United States, developed by Aypa Power.
The agreements cover the supply and commissioning of a 160 MW AC/806 MWh DC Battery Energy Storage System (BESS) in California and a 200 MW AC/998 MWh DC BESS in Texas. The projects will deploy approximately 370 &nbsp;<a href="https://csestorage.com/solbank-3-0/">SolBank 3.0</a>&nbsp;units, with construction expected to commence in Q3 2025. Following commissioning, e-STORAGE will oversee system maintenance and operations under a 20-year LTSA, ensuring long-term performance and reliability.
These projects will strengthen grid resilience and support renewable energy integration in key U.S. markets. e-STORAGE, a Tier 1 global provider of energy storage solutions, will integrate its proprietary <a href="https://csestorage.com/solbank-3-0/">SolBank 3.0</a>&nbsp;battery energy storage solution, featuring lithium-iron-phosphate battery technology, an active balancing battery management system, and advanced liquid cooling to ensure safety and performance.

Canadian Solar Secures Deals for Battery Storage Projects in California and Texas

General

Canadian Solar's Subsidiary e-STORAGE Inks contract With Copenhagen Infrastructure To Deliver 960 MWh Of Energy Storage Systems

Canadian Solar Says It Opened New and Expanded Global Headquarters in Ontario, Canada

Across the recent three months, 5 analysts have shared their insights on Canadian Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>), expressing a variety of opinions spanning from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">1</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $13.63, a high estimate of $20.00, and a low estimate of $10.00. This current average has decreased by 13.02% from the previous average price target of $15.67. 
<img src="https://www.benzinga.com/files/images/story/2025/1736362838_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A clear picture of Canadian Solar's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Michael Blum</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$10.00</td>
<td>$13.00</td>
</tr>
<tr>
<td>Maheep Mandloi</td>
<td>Mizuho</td>
<td>Announces</td>
<td>Outperform</td>
<td>$20.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Blum</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$13.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Johnson Wan</td>
<td>Jefferies</td>
<td>Announces</td>
<td>Buy</td>
<td>$14.15</td>
<td>-</td>
</tr>
<tr>
<td>Vikram Bagri</td>
<td>Citigroup</td>
<td>Lowers</td>
<td>Sell</td>
<td>$11.00</td>
<td>$19.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Canadian Solar. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Canadian Solar compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Canadian Solar's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Canadian Solar's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/CSIQ/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Canadian Solar analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Unveiling the Story Behind Canadian Solar</h2>
Canadian Solar Inc is a Canadian solar power company. It is an integrated provider of solar power products, services, and system solutions. The company engages in designing, developing, and manufacturing solar ingots, wafers, cells, modules, and other solar power products. It operates through two business segments CSI Solar and Recurrent Energy segment. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products. Its Recurrent segment primarily comprises solar and battery storage project development and sale, O&amp;M and asset management services for operational projects, sale of electricity, and investment in retained assets.
<h3>Financial Milestones: Canadian Solar's Journey</h3>
Market Capitalization Analysis: Positioned below industry benchmarks, the company's market capitalization faces constraints in size. This could be influenced by factors such as growth expectations or operational capacity.
Negative Revenue Trend: Examining Canadian Solar's financials over 3 months reveals challenges. As of 30 September, 2024, the company experienced a decline of approximately -18.34% in revenue growth, reflecting a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: Canadian Solar's net margin excels beyond industry benchmarks, reaching -0.93%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): Canadian Solar's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -0.51% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Canadian Solar's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of -0.11%, the company showcases efficient use of assets and strong financial health.
Debt Management: Canadian Solar's debt-to-equity ratio stands notably higher than the industry average, reaching 2.08. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Basics of Analyst Ratings</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What 5 Analyst Ratings Have To Say About Canadian Solar

Wells Fargo analyst Michael Blum maintains Canadian Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) with a Equal-Weight and lowers the price target from $13 to $10.

Wells Fargo Maintains Equal-Weight on Canadian Solar, Lowers Price Target to $10

Canadian Solar Announced That E-storage, Which Is Part Of The Company's Majority-owned Subsidiary CSI Solar Co., Ltd., Has Signed Contracts With Copenhagen Infrastructure Partners, Through Its Flagship Fund CI IV

Goldman Sachs analyst Brian Lee revised ratings for key residential solar stocks. The analyst notes there is a disconnect between the mid-to-long-term fundamentals and valuations for solar/storage equities heading into 2025.
Solar equities appear to be overpricing risks tied to policy uncertainty, even though secular growth drivers, such as U.S. power demand and pricing, remain strong.
SEDG: The analyst upgraded SolarEdge Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEDG#NASDAQ">SEDG</a>) rating to Buy from Sell and raised the <a target="_blank" href="https://www.benzinga.com/quote/SEDG/analyst-ratings" rel="noreferrer noopener">price target to $19 (from $10 prior)</a>.
After a challenging period, including a tough U.S. residential solar market and weaker European demand, the analyst notes estimates have bottomed, and concerns about SEDG&#8217;s $350 million debt in 2025 are overstated.
SEDG&#8217;s recent cost-cutting measures, including headcount and facility reductions, strengthen the outlook, adds the analyst.
Lee says that while the call may be early, he sees a turnaround as the company benefits from improved cost control and a better product mix.
The analyst sees FY25 as a key inflection point, with growth likely accelerating in FY26.
The analyst estimates negative EPS for FY25 but expects a positive fourth-quarter FY25 and strong growth in FY26. The EPS estimate of $1.64 for FY26 is well above the consensus of $0.55, adds the analyst.
CSIQ: Meanwhile, Lee downgraded Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) to Sell from Neutral and cut the<a target="_blank" href="https://www.benzinga.com/quote/csiq/analyst-ratings" rel="noreferrer noopener"> price target to $11 (from $14 prior)</a>.
The analyst&#8217;s negative outlook stems from policy risks under the Trump administration and tariffs on solar imports from Southeast Asia.
As a major foreign supplier of solar panels to the U.S., CSIQ is highly exposed to these risks, which will impact its margins, especially given the U.S. has been one of the more profitable markets recently, says the analyst.
The analyst also sees consensus estimates as overly optimistic, with the 2025-2026 EBITDA projections 35% &#8211; 40% below the Street&#8217;s, as recent policy changes and the uncertain outlook are not fully reflected in market expectations.
The analyst says 2024-2025 EBITDA estimates remain largely unchanged, while the 2026 estimate is revised down by 6% to $688 million due to a bleak outlook.
Price Action: SEDG shares are up 23.3% at $15.19, while CSIQ shares are up 0.86% at $11.76 at the last check Tuesday.
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Photo via Shutterstock.

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SolarEdge Poised For Growth Amid Cost Cuts, While Canadian Solar Faces US Policy Headwinds: Goldman Sachs

Mizuho analyst Maheep Mandloi initiates coverage on Canadian Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) with a Outperform rating and announces Price Target of $20.

Initiation

Mizuho Initiates Coverage On Canadian Solar with Outperform Rating, Announces Price Target of $20

Under the agreements, e-STORAGE, Canadian Solar's subsidiary specializing in the design, manufacturing, and integration of battery energy storage systems, will deliver 188 MWh DC to the Gaia project, located in Navarro County, and the 127 MWh DC Midpoint project in Hill County. Commissioning is scheduled for the third quarter of 2025 for both projects.

Commodities

Canadian Solar Has Executed Three Significant Agreements With Sunraycer Renewables. These Include Battery Energy Storage Supply And Commissioning Agreements For Two Projects In Texas, And The Purchase Of Up To 2 GWp Of High-efficiency Solar Modules For Various Sunraycer Projects

Under this agreement, the counterparty will procure renewable energy from a Recurrent Energy solar PV project located in Valladolid, in the northwestern Spanish autonomous community of Castilla y León.

Recurrent Energy Signs 10-Year Power Purchase Agreement With U.S.-based Technology Company

Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) shares are trading lower after the company <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/n42334375/canadian-solar-reports-third-quarter-2024-results" rel="noreferrer noopener">reported third-quarter 2024</a> results below street expectations.
The company reported an 18% year-over-year revenue decline to $1.51 billion, missing the consensus estimate of $1.71 billion. The decline reflects lower module ASPs and reduced project sales, partially offset by increased sales of battery energy storage solutions and higher solar module shipment volumes.
The gross margin declined 20% YoY to $247.44 million and 30 bps to 16.4%. Lower module ASPs, partially offset by reduced manufacturing costs and stronger margins from battery storage sales, drove the decline.
Total module shipments recognized as revenue in Q3 reached 8.4 GW, increasing 2% sequentially and 1% YoY. This total includes 31 MW delivered to the company&#8217;s utility-scale solar projects.
EPS for the quarter was a 31 cents loss, down from an income of 33 cents a year ago, missing the analyst consensus of 12 cents loss.
Operating cash outflow for the quarter was $230.97 million, compared to $429.34 million in the second quarter and down from $157.89 million inflow in the third quarter of 2023.
As of November 30, CSIQ had a $3.2 billion e-STORAGE contracted backlog. As of September 30, 2024, Recurrent Energy&#8217;s total solar project development pipeline was 26.4 GWp, including 1.7 GWp under construction, 4.8 GWp of backlog, and 19.9 GWp of projects in advanced and early-stage pipelines.
&#8220;The solar industry faces significant external and internal challenges. While we have achieved relatively strong results, the outlook remains complex. We are currently operating at an optimal scale with industry-leading technologies, and we remain committed to investing in R&amp;D to ensure that we remain at the forefront of innovation across our portfolio of products and solutions,&#8221; commented Dr. Shawn Qu, Chairman and CEO.
Yan Zhuang, President of Canadian Solar&#8217;s subsidiary CSI Solar, commented, &#8220;In energy storage, e-STORAGE recorded robust growth, reaching a record 4.4 GWh in shipments over the first three quarters of the year. At the same time, we are solidifying our market presence in established regions such as the U.S., Canada, and the UK, while expanding into emerging markets, exemplified by our inaugural project contract in Chile.&#8221;
&#8220;We ended the quarter with a strong cash position of $2.8 billion, which we will strategically deploy to support our long-term growth plans and strengthen our financial position, as we continue to navigate industry challenges,&#8221; commented Xinbo Zhu, Senior VP and CFO.
Q4 Outlook: Canadian Solar expects total revenue of $1.5 billion—$1.7 billion, versus a consensus estimate of $2.17 billion, and anticipates a gross margin of 16 – 18%.
The company expects total module shipments recognized as revenues by CSI Solar to be 8.0&nbsp;GW to 8.5 GW. CSI Solar expects battery storage shipments of 2.0&nbsp;GWh to 2.4&nbsp;GWh, including 1.2 GWh for its projects.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2025 Outlook: CSIQ expects total module shipments to be 30 GW to 35 GW and CSI Solar&#8217;s total battery energy storage shipments in the range of 11&nbsp;GWh to 13&nbsp;GWh, including approximately 1&nbsp;GW and 1&nbsp;GWh, respectively, to the company&#8217;s projects.
Price Action: CSIQ shares traded lower by 5.47% at $11.41 at the last check on Thursday.
Photo via Shutterstock

Tech

Canadian Solar Margins Shrink In Q3, Stock Slides

Press Releases

Canadian Solar Opens New and Expanded Global Headquarters in Ontario, Canada

Dr. Shawn Qu, Chairman and CEO of Canadian Solar, Recognized as an Innovator on the TIME100 Climate 2024 List

Contracts

Canadian Solar's e-STORAGE to Deliver 960 MWh of Energy Storage Systems for Copenhagen Infrastructure Partners in Australia

Canadian Solar Schedules Fourth Quarter and Full Year 2024 Earnings Conference Call for March 25

Canadian Solar's e-STORAGE to Deliver 1.8 GWh DC of Energy Storage Systems for Aypa Power in Key U.S. Markets

Recurrent Energy Secures $183 Million in Project Financing and Tax Equity for Merchant Storage Project in Texas

Canadian Solar's e-STORAGE to Deliver 576 MWh DC of Energy Storage Systems for Strata Clean Energy's White Tank Battery Project in Arizona

Dyadic (NASDAQ: DYAI) Secures $3M Gates Foundation Grant to Advance Global Vaccines & Therapeutics with C1 Fungal Platform – More Stocks Inside

Canadian Solar Reports Fourth Quarter and Full Year 2024 Results

Canadian Solar and Flow Power to Install Innovative Anti-Hail Solar Panels

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