Oppenheimer Holdings Research Analysts Cut Earnings Estimates for Canadian Solar Inc. (CSIQ)

Canadian Solar Inc. (NASDAQ:CSIQ) – Stock analysts at Oppenheimer Holdings dropped their Q2 2017 EPS estimates for Canadian Solar in a research note issued on Tuesday. Oppenheimer Holdings analyst C. Rusch now forecasts that the solar energy provider will post earnings of ($0.10) per share for the quarter, down from their prior estimate of $0.30. Oppenheimer Holdings currently has a “Outperform” rating and a $31.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Canadian Solar’s Q3 2017 earnings at $0.75 EPS, Q4 2017 earnings at $1.27 EPS and FY2017 earnings at $1.68 EPS.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Tuesday, June 6th. The solar energy provider reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.04 by $0.14. Canadian Solar had a return on equity of 15.60% and a net margin of 4.26%. The company had revenue of $677 million for the quarter, compared to analysts’ expectations of $580.45 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The firm’s revenue was down 6.2% on a year-over-year basis. TRADEMARK VIOLATION NOTICE: This news story was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this news story on another domain, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The original version of this news story can be accessed at https://sportsperspectives.com/2017/06/23/oppenheimer-holdings-research-analysts-cut-earnings-estimates-for-canadian-solar-inc-csiq-updated-updated.html.

Earnings History and Estimates for Canadian Solar (NASDAQ:CSIQ)

Other equities analysts also recently issued reports about the company. Cowen and Company increased their target price on Canadian Solar from $10.00 to $13.00 and gave the stock a “market perform” rating in a research report on Wednesday. Axiom Securities started coverage on Canadian Solar in a research report on Monday, April 17th. They set a “buy” rating and a $18.00 target price on the stock. FBR & Co reiterated a “mkt perform” rating and set a $13.00 target price (up from $12.00) on shares of Canadian Solar in a research report on Wednesday, March 22nd. Roth Capital set a $12.00 target price on Canadian Solar and gave the stock a “hold” rating in a research report on Wednesday, March 22nd. Finally, JPMorgan Chase & Co. reduced their target price on Canadian Solar from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 22nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $16.20.

Shares of Canadian Solar (NASDAQ:CSIQ) opened at 12.55 on Thursday. The firm has a market capitalization of $725.79 million, a P/E ratio of 11.21 and a beta of 2.78. The company’s 50 day moving average price is $13.21 and its 200-day moving average price is $12.82. Canadian Solar has a 12 month low of $10.25 and a 12 month high of $18.06.

Several institutional investors have recently added to or reduced their stakes in CSIQ. Quentec Asset Management LLC increased its position in Canadian Solar by 55.9% in the third quarter. Quentec Asset Management LLC now owns 1,598,228 shares of the solar energy provider’s stock worth $21,960,000 after buying an additional 572,963 shares during the period. Cetera Advisor Networks LLC increased its position in Canadian Solar by 36.8% in the third quarter. Cetera Advisor Networks LLC now owns 51,350 shares of the solar energy provider’s stock worth $706,000 after buying an additional 13,800 shares during the period. Commerzbank Aktiengesellschaft FI increased its position in Canadian Solar by 6.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 91,918 shares of the solar energy provider’s stock worth $1,120,000 after buying an additional 5,471 shares during the period. State Street Corp increased its position in Canadian Solar by 7.4% in the fourth quarter. State Street Corp now owns 18,931 shares of the solar energy provider’s stock worth $230,000 after buying an additional 1,307 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its position in Canadian Solar by 27.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,514 shares of the solar energy provider’s stock worth $189,000 after buying an additional 3,350 shares during the period. Institutional investors own 36.88% of the company’s stock.

About Canadian Solar

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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