Canadian Solar Inc. (NASDAQ:CSIQ) has been given a consensus rating of “Hold” by the thirteen analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $17.44.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub raised shares of Canadian Solar from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. FBR & Co reissued a “neutral” rating and set a $15.00 target price (up previously from $13.00) on shares of Canadian Solar in a research report on Tuesday, August 15th. Cowen and Company set a $16.00 target price on shares of Canadian Solar and gave the company a “hold” rating in a research report on Monday, August 14th. Finally, Vetr raised shares of Canadian Solar from a “buy” rating to a “strong-buy” rating and set a $19.06 target price for the company in a research report on Thursday, August 10th.
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Shares of Canadian Solar (NASDAQ CSIQ) traded down 0.37% during midday trading on Wednesday, hitting $16.20. 339,513 shares of the stock traded hands. Canadian Solar has a 52 week low of $10.25 and a 52 week high of $18.12. The company has a market capitalization of $938.74 million, a price-to-earnings ratio of 38.39 and a beta of 3.15. The firm’s 50-day moving average is $16.32 and its 200 day moving average is $14.94.
Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Monday, August 14th. The solar energy provider reported ($0.15) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. Canadian Solar had a return on equity of 1.71% and a net margin of 1.01%. The company had revenue of $692.37 million during the quarter, compared to the consensus estimate of $631.05 million. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The firm’s revenue was down 14.1% compared to the same quarter last year. Equities analysts forecast that Canadian Solar will post $1.62 earnings per share for the current year.
Several institutional investors have recently bought and sold shares of CSIQ. Pacad Investment Ltd. bought a new position in shares of Canadian Solar during the 2nd quarter worth approximately $115,000. Legal & General Group Plc boosted its holdings in shares of Canadian Solar by 111.1% during the 2nd quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock worth $124,000 after buying an additional 4,100 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Canadian Solar by 20.0% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 18,614 shares of the solar energy provider’s stock worth $228,000 after buying an additional 3,100 shares in the last quarter. Global X Management Co. LLC boosted its holdings in shares of Canadian Solar by 7.5% during the 1st quarter. Global X Management Co. LLC now owns 22,345 shares of the solar energy provider’s stock worth $274,000 after buying an additional 1,562 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Canadian Solar during the 1st quarter worth approximately $303,000. Hedge funds and other institutional investors own 41.81% 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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