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

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have earned a consensus rating of “Hold” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $23.33.

A number of analysts recently issued reports on CSIQ shares. Oppenheimer dropped their target price on shares of Canadian Solar from $43.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 23rd. StockNews.com downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Glj Research increased their target price on shares of Canadian Solar from $9.10 to $12.28 and gave the stock a “sell” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Canadian Solar from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 16th. Finally, Roth Mkm dropped their target price on shares of Canadian Solar from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, August 26th.

Institutional Trading of Canadian Solar

Hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in shares of Canadian Solar during the second quarter worth approximately $31,000. Daiwa Securities Group Inc. lifted its stake in Canadian Solar by 72.1% during the first quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider’s stock worth $146,000 after purchasing an additional 3,100 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Canadian Solar by 9.2% during the first quarter. Janney Montgomery Scott LLC now owns 15,291 shares of the solar energy provider’s stock worth $302,000 after purchasing an additional 1,283 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Canadian Solar by 43.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock worth $232,000 after purchasing an additional 4,739 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Canadian Solar during the first quarter worth $336,000. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Trading Up 0.5 %

Shares of CSIQ stock opened at $12.67 on Thursday. The firm has a market cap of $838.23 million, a P/E ratio of 4.40, a PEG ratio of 4.92 and a beta of 1.31. 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 firm’s 50-day simple moving average is $13.99 and its 200-day simple moving average is $15.67.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, August 22nd. The solar energy provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. Canadian Solar had a net margin of 0.56% and a return on equity of 0.99%. The company’s 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. As a group, equities analysts forecast that Canadian Solar will post 0.12 EPS for the current year.

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.