Canadian Solar Inc. (NASDAQ:CSIQ) Receives Average Rating of “Hold” from Brokerages

Canadian Solar Inc. (NASDAQ:CSIQ) has been given a consensus rating of “Hold” by the ten analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $23.33.

CSIQ has been the topic of several recent analyst reports. StockNews.com lowered shares of Canadian Solar from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Glj Research lifted their price objective on shares of Canadian Solar from $9.10 to $12.28 and gave the company a “sell” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group cut their target price on Canadian Solar from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, August 26th. Roth Mkm decreased their price target on Canadian Solar from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Oppenheimer lowered their price target on Canadian Solar from $43.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, August 23rd.

Institutional Investors Weigh In On Canadian Solar

Several hedge funds have recently modified their holdings of the company. Green Alpha Advisors LLC increased its holdings in Canadian Solar by 1.9% in the 1st quarter. Green Alpha Advisors LLC now owns 41,136 shares of the solar energy provider’s stock worth $813,000 after purchasing an additional 766 shares in the last quarter. Scotia Capital Inc. increased its stake in shares of Canadian Solar by 3.0% in the fourth quarter. Scotia Capital Inc. now owns 39,400 shares of the solar energy provider’s stock valued at $1,033,000 after buying an additional 1,130 shares during the period. Janney Montgomery Scott LLC raised its holdings in Canadian Solar by 9.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,291 shares of the solar energy provider’s stock valued at $302,000 after buying an additional 1,283 shares during the last quarter. American Century Companies Inc. raised its holdings in Canadian Solar by 8.0% in the 2nd quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider’s stock valued at $276,000 after buying an additional 1,383 shares during the last quarter. Finally, Quarry LP acquired a new stake in Canadian Solar during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Trading Up 6.7 %

Shares of NASDAQ:CSIQ opened at $14.90 on Friday. The business’s 50 day simple moving average is $14.16 and its 200 day simple moving average is $16.11. Canadian Solar has a 1 year low of $11.41 and a 1 year high of $26.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.04 and a quick ratio of 0.82. The company has a market capitalization of $985.78 million, a P/E ratio of 5.17, a P/E/G ratio of 4.71 and a beta of 1.29.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, August 22nd. The solar energy provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. Canadian Solar had a return on equity of 0.99% and a net margin of 0.56%. Canadian Solar’s quarterly revenue was down 30.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.39 EPS. On average, research analysts anticipate that Canadian Solar will post 0.12 EPS for the current fiscal year.

About Canadian Solar

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.