Mackenzie Financial Corp Has $75.46 Million Stock Holdings in Canadian Solar Inc. (NASDAQ:CSIQ)

Mackenzie Financial Corp lifted its position in Canadian Solar Inc. (NASDAQ:CSIQ) by 25.4% during the 2nd quarter, Holdings Channel reports. The firm owned 5,115,665 shares of the solar energy provider’s stock after buying an additional 1,037,800 shares during the quarter. Mackenzie Financial Corp owned approximately 0.08% of Canadian Solar worth $75,456,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its holdings in Canadian Solar by 72.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider’s stock worth $146,000 after acquiring an additional 3,100 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Canadian Solar in the 4th quarter worth approximately $359,000. Janney Montgomery Scott LLC boosted its position 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. Virtu Financial LLC bought a new stake in shares of Canadian Solar during the first quarter worth $336,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Canadian Solar by 27.6% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,435 shares of the solar energy provider’s stock valued at $257,000 after acquiring an additional 3,768 shares during the period. 52.36% of the stock is owned by institutional investors.

Canadian Solar Price Performance

NASDAQ CSIQ opened at $16.17 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.82 and a current ratio of 1.04. Canadian Solar Inc. has a 52-week low of $11.41 and a 52-week high of $26.85. The business has a 50 day simple moving average of $14.17 and a 200 day simple moving average of $16.08. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 5.61, a PEG ratio of 4.71 and a beta of 1.29.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Thursday, August 22nd. The solar energy provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was down 30.8% on a year-over-year basis. During the same period last year, the business posted $2.39 earnings per share. Analysts anticipate that Canadian Solar Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Canadian Solar from $17.00 to $20.00 and gave the stock an “underweight” rating in a report on Tuesday, July 16th. The Goldman Sachs Group dropped their target price on shares of 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 raised their price target on Canadian Solar from $9.10 to $12.28 and gave the stock a “sell” rating in a research report on Tuesday, July 30th. UBS Group dropped their price objective on Canadian Solar from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. Finally, StockNews.com cut Canadian Solar from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $23.33.

Canadian Solar 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.