Canadian Solar Inc. (NASDAQ:CSIQ) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $18.00.
A number of research analysts have issued reports on the stock. ValuEngine cut shares of Canadian Solar from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. B. Riley dropped their target price on shares of Canadian Solar from $18.00 to $17.00 and set a “hold” rating for the company in a report on Thursday, August 23rd. BidaskClub upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, JPMorgan Chase & Co. upgraded shares of Canadian Solar from an “underweight” rating to a “neutral” rating and decreased their target price for the stock from $17.00 to $15.00 in a research report on Thursday, June 7th.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its holdings in Canadian Solar by 1.0% during the 1st quarter. BlackRock Inc. now owns 2,478,858 shares of the solar energy provider’s stock worth $40,331,000 after buying an additional 25,550 shares during the period. Park West Asset Management LLC acquired a new stake in shares of Canadian Solar in the first quarter valued at approximately $31,387,000. Bank of America Corp DE raised its holdings in shares of Canadian Solar by 16.6% in the second quarter. Bank of America Corp DE now owns 831,106 shares of the solar energy provider’s stock valued at $10,173,000 after purchasing an additional 118,621 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Canadian Solar by 27.7% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 714,362 shares of the solar energy provider’s stock valued at $8,744,000 after purchasing an additional 155,087 shares during the last quarter. Finally, Luminus Management LLC acquired a new stake in shares of Canadian Solar in the second quarter valued at approximately $6,581,000. 36.04% of the stock is currently owned by institutional investors.
NASDAQ CSIQ traded down $0.18 during trading hours on Friday, hitting $14.33. The company had a trading volume of 5,083 shares, compared to its average volume of 945,446. Canadian Solar has a 1-year low of $11.37 and a 1-year high of $19.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.93 and a quick ratio of 0.84. The company has a market capitalization of $832.93 million, a PE ratio of 13.68, a P/E/G ratio of 0.32 and a beta of 2.40.
Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Tuesday, August 14th. The solar energy provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Canadian Solar had a net margin of 3.26% and a return on equity of 12.44%. The business had revenue of $650.10 million during the quarter, compared to analysts’ expectations of $711.53 million. During the same period in the previous year, the company posted $0.63 earnings per share. Canadian Solar’s quarterly revenue was down 6.1% on a year-over-year basis. research analysts expect that Canadian Solar will post 1.73 earnings per share for the current year.
Canadian Solar Company Profile
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.
Further Reading: Return on Investment (ROI)
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