Canadian Solar Inc. (NASDAQ:CSIQ) Given Consensus Rating of “Hold” by Brokerages

Canadian Solar Inc. (NASDAQ:CSIQ) has been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $26.83.

A number of equities research analysts recently issued reports on CSIQ shares. JPMorgan Chase & Co. upped their price target on shares of Canadian Solar from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday. BidaskClub downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a research note on Friday. Cfra raised shares of Canadian Solar from a “hold” rating to a “buy” rating and increased their target price for the company from $20.00 to $22.00 in a research note on Friday, May 29th. ValuEngine downgraded shares of Canadian Solar from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 9th. Finally, Oppenheimer reissued a “buy” rating and issued a $25.00 target price on shares of Canadian Solar in a research note on Thursday, May 28th.

Several hedge funds and other institutional investors have recently bought and sold shares of CSIQ. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Canadian Solar by 18.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,836 shares of the solar energy provider’s stock worth $77,000 after acquiring an additional 736 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in Canadian Solar during the 1st quarter worth about $85,000. Tower Research Capital LLC TRC grew its holdings in Canadian Solar by 46.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 10,000 shares of the solar energy provider’s stock worth $159,000 after acquiring an additional 3,172 shares in the last quarter. Engineers Gate Manager LP bought a new position in Canadian Solar during the 1st quarter worth about $198,000. Finally, Cetera Advisor Networks LLC bought a new position in Canadian Solar during the 1st quarter worth about $209,000. Hedge funds and other institutional investors own 40.41% of the company’s stock.

Canadian Solar stock traded down $0.41 during mid-day trading on Friday, reaching $22.14. 941,589 shares of the company’s stock traded hands, compared to its average volume of 1,152,692. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 4.46, a PEG ratio of 0.30 and a beta of 1.57. The stock has a 50 day moving average of $20.87 and a two-hundred day moving average of $19.44. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.45. Canadian Solar has a 12-month low of $12.00 and a 12-month high of $25.85.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Thursday, May 28th. The solar energy provider reported $1.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.98. The company had revenue of $825.60 million for the quarter, compared to the consensus estimate of $792.65 million. Canadian Solar had a net margin of 8.45% and a return on equity of 16.69%. Canadian Solar’s revenue was up 70.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.29) earnings per share. As a group, sell-side analysts forecast that Canadian Solar will post 2.3 earnings per share for the current year.

About Canadian Solar

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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Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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