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

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have received a consensus rating of “Hold” from the ten ratings firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $23.33.

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Canadian Solar from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Tuesday, July 16th. StockNews.com downgraded Canadian Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group dropped their price objective on Canadian Solar from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, August 26th. Glj Research upped their target price on shares of Canadian Solar from $9.10 to $12.28 and gave the company a “sell” rating in a report on Tuesday, July 30th. Finally, UBS Group decreased their price target on shares of Canadian Solar from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, June 12th.

Hedge Funds Weigh In On Canadian Solar

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new stake in shares of Canadian Solar during the 4th quarter valued at $201,000. Capstone Investment Advisors LLC purchased a new stake in Canadian Solar during the fourth quarter valued at about $359,000. Scotia Capital Inc. increased its stake in Canadian Solar by 3.0% during the fourth quarter. Scotia Capital Inc. now owns 39,400 shares of the solar energy provider’s stock worth $1,033,000 after acquiring an additional 1,130 shares during the last quarter. Bank of Nova Scotia raised its holdings in shares of Canadian Solar by 80.8% in the 4th quarter. Bank of Nova Scotia now owns 38,630 shares of the solar energy provider’s stock worth $1,015,000 after purchasing an additional 17,260 shares during the period. Finally, KBC Group NV lifted its stake in shares of Canadian Solar by 24.8% in the 4th quarter. KBC Group NV now owns 181,953 shares of the solar energy provider’s stock valued at $4,773,000 after purchasing an additional 36,170 shares in the last quarter. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Trading Down 2.0 %

Shares of CSIQ stock opened at $14.05 on Friday. The stock has a market cap of $929.53 million, a P/E ratio of 4.88, a P/E/G ratio of 3.61 and a beta of 1.29. The company has a quick ratio of 0.82, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. Canadian Solar has a fifty-two week low of $11.41 and a fifty-two week high of $26.85. The business has a fifty day simple moving average of $14.30 and a 200-day simple moving average of $16.27.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, August 22nd. The solar energy provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. Canadian Solar had a net margin of 0.56% and a return on equity of 0.99%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the firm posted $2.39 EPS. The firm’s revenue for the quarter was down 30.8% on a year-over-year basis. On average, analysts forecast that Canadian Solar will post 0.15 earnings per share for the current fiscal 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.