Canadian Solar (CSIQ) – Analysts’ Recent Ratings Updates

Canadian Solar (NASDAQ: CSIQ) has recently received a number of price target changes and ratings updates:

  • 10/27/2018 – Canadian Solar was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 10/23/2018 – Canadian Solar was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Canadian Solar caters to a geographically diverse customer base spread across both key markets and emerging markets. Of late, the company has further expanded its global late-stage project pipeline into nations like Argentina, Australia and South Korea, considering these as the markets where the next phase of industrial growth is expected. Canadian Solar has a strong pipeline of projects and carries out various acquisitions and strategies to further consolidate its position. However, the recent policy change in China is anticipated to be detrimental for international solar stocks like Canadian Solar, which have increased commitments to ship modules or are set to construct new projects in China. Also, the demand for the company’s solar module has been witnessed a slowdown in the past few quarters. Furthermore, its shares underperformed its industry in the last one year.”
  • 10/22/2018 – Canadian Solar was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating. They now have a $15.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 10/18/2018 – Canadian Solar was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/17/2018 – Canadian Solar was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 10/16/2018 – Canadian Solar was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “The recent policy change in China is anticipated to be detrimental for international solar stocks like Canadian Solar, which have increased commitments to ship modules or are set to construct new projects in China. Also, the demand for the company’s solar module has been witnessed a slowdown in the past few quarters. Meanwhile President Trump’s plans to shift focus to the traditional energy businesses such as coal, oil and gas and his skepticism around global climate change have cast a shadow over the future of solar companies. Furthermore, its shares underperformed its industry in the last one year. Also, Canadian Solar faces stiff competition from cheaper alternatives like natural gas, given the current shale boom in the United States. However, Canadian Solar caters to a geographically diverse customer base spread across both key markets and emerging markets.”
  • 9/7/2018 – Canadian Solar was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.

Shares of CSIQ stock opened at $13.96 on Wednesday. The company has a market capitalization of $754.04 million, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.29 and a beta of 2.27. The company has a quick ratio of 0.84, a current ratio of 0.93 and a debt-to-equity ratio of 0.20. Canadian Solar Inc. has a fifty-two week low of $11.37 and a fifty-two week high of $19.09.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Tuesday, August 14th. The solar energy provider reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.01). The firm had revenue of $650.10 million for the quarter, compared to the consensus estimate of $711.53 million. Canadian Solar had a net margin of 3.26% and a return on equity of 12.44%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. On average, research analysts anticipate that Canadian Solar Inc. will post 1.73 earnings per share for the current year.



Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in Canadian Solar by 1.0% in the 1st quarter. BlackRock Inc. now owns 2,478,858 shares of the solar energy provider’s stock worth $40,331,000 after acquiring an additional 25,550 shares during the last quarter. Bank of America Corp DE lifted its holdings in Canadian Solar by 16.6% in the 2nd quarter. Bank of America Corp DE now owns 831,106 shares of the solar energy provider’s stock worth $10,173,000 after buying an additional 118,621 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Canadian Solar by 27.7% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 714,362 shares of the solar energy provider’s stock worth $8,744,000 after buying an additional 155,087 shares during the period. Luminus Management LLC purchased a new stake in Canadian Solar in the 2nd quarter worth approximately $6,581,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Canadian Solar in the 3rd quarter worth approximately $7,150,000. 35.67% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

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