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

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have earned an average rating of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.31.

Several brokerages have commented on CSIQ. Mizuho began coverage on shares of Canadian Solar in a research note on Friday, December 13th. They set an “outperform” rating and a $20.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. StockNews.com cut shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. The Goldman Sachs Group cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and decreased their target price for the company from $14.00 to $11.00 in a research note on Tuesday, December 17th. Finally, Citigroup cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and decreased their target price for the company from $19.00 to $11.00 in a research note on Tuesday, October 22nd.

Institutional Investors Weigh In On Canadian Solar

Large investors have recently modified their holdings of the business. USCF Advisers LLC grew its holdings in shares of Canadian Solar by 66.7% during the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock worth $28,000 after buying an additional 1,000 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Canadian Solar by 184.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider’s stock worth $57,000 after buying an additional 3,347 shares in the last quarter. Sciencast Management LP purchased a new stake in shares of Canadian Solar during the fourth quarter worth $113,000. Miracle Mile Advisors LLC purchased a new stake in shares of Canadian Solar during the fourth quarter worth $133,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Canadian Solar by 20.3% during the third quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock worth $149,000 after buying an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Up 1.3 %

CSIQ stock opened at $10.77 on Wednesday. The firm has a 50 day moving average of $11.18 and a 200 day moving average of $12.66. The stock has a market capitalization of $712.54 million, a PE ratio of -89.75, a price-to-earnings-growth ratio of 0.67 and a beta of 1.26. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65. Canadian Solar has a 52 week low of $9.56 and a 52 week high of $22.95.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.13. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business posted $0.32 EPS. The business’s quarterly revenue was down 18.4% compared to the same quarter last year. Sell-side analysts forecast that Canadian Solar will post -0.23 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.