Canadian Solar Inc. (NASDAQ:CSIQ) has received an average rating of “Hold” from the fourteen brokerages that are currently covering the company. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $17.80.
CSIQ has been the subject of a number of research reports. Axiom Securities initiated coverage on shares of Canadian Solar in a research note on Monday. They set a “buy” rating and a $18.00 target price for the company. Zacks Investment Research upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, January 24th. Roth Capital set a $12.00 target price on shares of Canadian Solar and gave the stock a “hold” rating in a research note on Wednesday, March 22nd. FBR & Co restated a “mkt perform” rating and set a $13.00 target price (up previously from $12.00) on shares of Canadian Solar in a research note on Wednesday, March 22nd. Finally, JPMorgan Chase & Co. cut shares of Canadian Solar from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $15.36 to $16.00 in a research note on Wednesday, February 22nd.
A number of institutional investors have recently added to or reduced their stakes in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Canadian Solar during the fourth quarter valued at approximately $974,000. Menora Mivtachim Holdings LTD. purchased a new position in Canadian Solar during the fourth quarter valued at approximately $112,000. Dynamic Technology Lab Private Ltd purchased a new position in Canadian Solar during the fourth quarter valued at approximately $382,000. Gabelli Funds LLC raised its position in Canadian Solar by 7.8% in the fourth quarter. Gabelli Funds LLC now owns 345,000 shares of the solar energy provider’s stock valued at $4,202,000 after buying an additional 25,000 shares in the last quarter. Finally, Trexquant Investment LP raised its position in Canadian Solar by 31.7% in the fourth quarter. Trexquant Investment LP now owns 29,626 shares of the solar energy provider’s stock valued at $361,000 after buying an additional 7,128 shares in the last quarter. 36.88% of the stock is currently owned by hedge funds and other institutional investors.
Canadian Solar (NASDAQ:CSIQ) traded up 0.37% during midday trading on Monday, hitting $13.51. 801,261 shares of the company traded hands. The stock’s 50-day moving average is $12.96 and its 200-day moving average is $12.99. Canadian Solar has a 12-month low of $10.25 and a 12-month high of $19.65. The firm has a market capitalization of $780.96 million, a PE ratio of 12.06 and a beta of 2.78.
Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Tuesday, March 21st. The solar energy provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.08. The company had revenue of $668.40 million for the quarter, compared to analyst estimates of $698.57 million. Canadian Solar had a return on equity of 15.60% and a net margin of 4.26%. The business’s quarterly revenue was down 40.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 EPS. Analysts anticipate that Canadian Solar will post $1.56 EPS for the current fiscal year.
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Canadian Solar Company Profile
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
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