Canadian Solar Inc. (NASDAQ:CSIQ) – Research analysts at FBR & Co reduced their FY2017 EPS estimates for shares of Canadian Solar in a report issued on Wednesday, Zacks Investment Research reports. FBR & Co analyst C. Driscoll now forecasts that the solar energy provider will earn $1.66 per share for the year, down from their prior estimate of $1.67. FBR & Co has a “Mkt Perform” rating and a $13.00 price target on the stock. FBR & Co also issued estimates for Canadian Solar’s Q4 2017 earnings at $0.86 EPS, Q1 2018 earnings at ($0.01) EPS, Q2 2018 earnings at $0.28 EPS, Q3 2018 earnings at $0.67 EPS, Q4 2018 earnings at $0.83 EPS and FY2018 earnings at $1.77 EPS.
Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Tuesday, March 21st. The solar energy provider reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.08. The firm had revenue of $668.40 million for the quarter, compared to analyst estimates of $698.57 million. Canadian Solar had a net margin of 4.26% and a return on equity of 15.60%. The firm’s quarterly revenue was down 40.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 earnings per share.
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Several other analysts have also recently weighed in on the company. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $31.00 price target on shares of Canadian Solar in a report on Thursday. Axiom Securities began coverage on Canadian Solar in a report on Monday. They set a “buy” rating and a $18.00 price target for the company. Roth Capital set a $12.00 price target on Canadian Solar and gave the stock a “hold” rating in a report on Wednesday, March 22nd. JPMorgan Chase & Co. dropped their price target on Canadian Solar from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, March 22nd. Finally, Zacks Investment Research cut Canadian Solar from a “hold” rating to a “sell” rating in a report on Thursday, February 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Canadian Solar presently has an average rating of “Hold” and an average price target of $17.49.
Shares of Canadian Solar (NASDAQ:CSIQ) traded down 0.81% during midday trading on Thursday, hitting $13.40. The stock had a trading volume of 707,620 shares. Canadian Solar has a one year low of $10.25 and a one year high of $19.65. The company has a market capitalization of $774.60 million, a PE ratio of 11.96 and a beta of 2.78. The firm’s 50-day moving average is $12.93 and its 200 day moving average is $13.00.
Several institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC raised its position in shares of Canadian Solar by 149.1% in the third quarter. SG Americas Securities LLC now owns 90,840 shares of the solar energy provider’s stock valued at $1,248,000 after buying an additional 54,371 shares during the last quarter. BlackRock Group LTD raised its position in shares of Canadian Solar by 56.8% in the third quarter. BlackRock Group LTD now owns 1,509,978 shares of the solar energy provider’s stock valued at $20,748,000 after buying an additional 547,155 shares during the last quarter. Tradition Capital Management LLC raised its position in shares of Canadian Solar by 21.6% in the third quarter. Tradition Capital Management LLC now owns 70,775 shares of the solar energy provider’s stock valued at $972,000 after buying an additional 12,550 shares during the last quarter. Global X Management Co. LLC raised its position in shares of Canadian Solar by 27.1% in the third quarter. Global X Management Co. LLC now owns 21,742 shares of the solar energy provider’s stock valued at $299,000 after buying an additional 4,642 shares during the last quarter. Finally, Delta Lloyd NV raised its position in shares of Canadian Solar by 4.9% in the third quarter. Delta Lloyd NV now owns 550,188 shares of the solar energy provider’s stock valued at $7,560,000 after buying an additional 25,757 shares during the last quarter. Institutional investors own 36.88% of the company’s stock.
Canadian Solar Company Profile
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
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