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

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have earned an average rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $19.94.

Several research firms recently weighed in on CSIQ. Jefferies Financial Group began coverage on Canadian Solar in a research report on Friday, November 22nd. They set a “buy” rating and a $14.15 target price on the stock. Roth Mkm lowered their price objective on Canadian Solar from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Oppenheimer lowered their price objective on Canadian Solar from $43.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, August 23rd. Citigroup downgraded Canadian Solar from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $19.00 to $11.00 in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group lowered their price objective on Canadian Solar from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, August 26th.

Institutional Investors Weigh In On Canadian Solar

Several large investors have recently made changes to their positions in the company. Mackenzie Financial Corp increased its stake in Canadian Solar by 25.4% during the second quarter. Mackenzie Financial Corp now owns 5,115,665 shares of the solar energy provider’s stock worth $75,456,000 after acquiring an additional 1,037,800 shares during the last quarter. SIR Capital Management L.P. bought a new stake in Canadian Solar during the second quarter worth approximately $3,994,000. D. Scott Neal Inc. bought a new stake in Canadian Solar during the second quarter worth approximately $3,898,000. Foundry Partners LLC bought a new stake in Canadian Solar during the second quarter worth approximately $3,667,000. Finally, Cerity Partners LLC increased its stake in Canadian Solar by 131.5% during the third quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider’s stock worth $7,186,000 after acquiring an additional 243,542 shares during the last quarter. 52.36% of the stock is owned by institutional investors.

Canadian Solar Stock Performance

CSIQ stock opened at $11.46 on Friday. The company has a market cap of $758.18 million, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.23 and a beta of 1.29. Canadian Solar has a 1 year low of $10.91 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 stock’s fifty day moving average price is $13.48 and its 200-day moving average price is $14.76.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.71 billion. Canadian Solar had a return on equity of 0.99% and a net margin of 0.56%. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. On average, equities analysts forecast that Canadian Solar will post 0.41 earnings per share 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.