Brokerages Set Canadian Solar Inc. (NASDAQ:CSIQ) Target Price at $35.43

Canadian Solar Inc. (NASDAQ:CSIQGet Free Report) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $35.43.

CSIQ has been the subject of several research reports. UBS Group lowered their price objective on shares of Canadian Solar from $47.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, November 17th. Roth Capital decreased their target price on Canadian Solar from $50.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, November 15th. Citigroup cut their target price on Canadian Solar from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 18th. JPMorgan Chase & Co. lowered Canadian Solar from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $32.00 to $22.00 in a report on Wednesday, November 15th. Finally, Oppenheimer cut their price target on Canadian Solar from $68.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, November 15th.

View Our Latest Analysis on CSIQ

Canadian Solar Stock Up 3.0 %

CSIQ opened at $23.60 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.16. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 4.71 and a beta of 1.30. The firm’s fifty day moving average is $23.28 and its 200 day moving average is $24.58. Canadian Solar has a fifty-two week low of $17.82 and a fifty-two week high of $45.29.

Canadian Solar (NASDAQ:CSIQGet Free Report) last posted its earnings results on Tuesday, November 14th. The solar energy provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.50). The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.03 billion. Canadian Solar had a return on equity of 11.98% and a net margin of 4.48%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.12 earnings per share. On average, sell-side analysts forecast that Canadian Solar will post 3.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Solar

Large investors have recently made changes to their positions in the company. Bank of Nova Scotia boosted its holdings in Canadian Solar by 80.8% during the fourth quarter. Bank of Nova Scotia now owns 38,630 shares of the solar energy provider’s stock worth $1,015,000 after buying an additional 17,260 shares in the last quarter. Scotia Capital Inc. boosted its position in shares of Canadian Solar by 3.0% during the 4th quarter. Scotia Capital Inc. now owns 39,400 shares of the solar energy provider’s stock valued at $1,033,000 after acquiring an additional 1,130 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Canadian Solar in the fourth quarter worth about $359,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Canadian Solar by 51.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,046 shares of the solar energy provider’s stock worth $606,000 after purchasing an additional 8,202 shares in the last quarter. Finally, North Growth Management Ltd. lifted its holdings in Canadian Solar by 8.5% in the fourth quarter. North Growth Management Ltd. now owns 51,000 shares of the solar energy provider’s stock valued at $1,337,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 50.35% of the company’s stock.

Canadian Solar Company Profile

(Get Free Report

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.

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