Roth Mkm Reaffirms Buy Rating for Canadian Solar (NASDAQ:CSIQ)

Roth Mkm reissued their buy rating on shares of Canadian Solar (NASDAQ:CSIQ) in a report issued on Wednesday, Benzinga reports. Roth Mkm currently has a $25.00 price target on the solar energy provider’s stock.

Other research analysts have also issued research reports about the stock. Citigroup dropped their price objective on shares of Canadian Solar from $26.00 to $24.00 and set a neutral rating for the company in a report on Friday, March 15th. StockNews.com upgraded shares of Canadian Solar from a sell rating to a hold rating in a report on Thursday, April 11th. The Goldman Sachs Group lowered their price target on shares of Canadian Solar from $28.00 to $24.00 and set a neutral rating for the company in a report on Friday, March 15th. Daiwa Capital Markets started coverage on shares of Canadian Solar in a report on Monday, March 11th. They set a neutral rating and a $21.00 price target for the company. Finally, Wells Fargo & Company lowered their price target on shares of Canadian Solar from $28.00 to $23.00 and set an equal weight rating for the company in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Canadian Solar presently has a consensus rating of Hold and a consensus target price of $29.00.

Canadian Solar Trading Up 3.1 %

CSIQ opened at $18.20 on Wednesday. The company’s 50 day moving average is $17.08 and its 200-day moving average is $20.47. Canadian Solar has a 1-year low of $14.11 and a 1-year high of $45.29. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. The company has a market cap of $1.20 billion, a P/E ratio of 6.32, a PEG ratio of 0.33 and a beta of 1.29.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Thursday, May 9th. The solar energy provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.20. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. Canadian Solar had a net margin of 2.80% and a return on equity of 5.61%. The firm’s quarterly revenue was down 21.1% compared to the same quarter last year. During the same period last year, the company posted $1.19 EPS. Equities research analysts predict that Canadian Solar will post 2.2 earnings per share for the current fiscal year.

Institutional Trading of Canadian Solar

Several hedge funds have recently modified their holdings of CSIQ. Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Canadian Solar by 137.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,761,422 shares of the solar energy provider’s stock valued at $92,569,000 after acquiring an additional 2,180,240 shares in the last quarter. Mackenzie Financial Corp grew its position in Canadian Solar by 27.1% in the 4th quarter. Mackenzie Financial Corp now owns 3,952,015 shares of the solar energy provider’s stock valued at $103,661,000 after purchasing an additional 843,100 shares during the period. Schroder Investment Management Group grew its position in Canadian Solar by 15.7% in the 4th quarter. Schroder Investment Management Group now owns 1,575,683 shares of the solar energy provider’s stock valued at $41,330,000 after purchasing an additional 213,959 shares during the period. Creative Planning grew its position in Canadian Solar by 103.3% in the 3rd quarter. Creative Planning now owns 404,759 shares of the solar energy provider’s stock valued at $9,961,000 after purchasing an additional 205,671 shares during the period. Finally, Robotti Robert grew its position in Canadian Solar by 92.5% in the 1st quarter. Robotti Robert now owns 315,476 shares of the solar energy provider’s stock valued at $6,234,000 after purchasing an additional 151,610 shares during the period. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Company Profile

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