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

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

Canadian Solar Inc. ( NASDAQ:CSIQ– Get Free Report) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $28.89.

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Wells Fargo & Company dropped their price target on shares of Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 19th. The Goldman Sachs Group dropped their price target on shares of Canadian Solar from $28.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Citigroup dropped their price target on shares of Canadian Solar from $26.00 to $24.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Finally, Daiwa Capital Markets started coverage on shares of Canadian Solar in a research report on Monday, March 11th. They set a “neutral” rating and a $21.00 target price on the stock.

View Our Latest Stock Analysis on CSIQ

Canadian Solar Stock Down 1.6 %

CSIQ opened at $18.07 on Friday. The stock has a market capitalization of $1.20 billion, a PE ratio of 6.27, a P/E/G ratio of 0.34 and a beta of 1.35. Canadian Solar has a 1 year low of $14.11 and a 1 year high of $41.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.79 and a current ratio of 1.02. The company’s 50-day simple moving average is $16.98 and its 200-day simple moving average is $20.25.

Canadian Solar ( NASDAQ:CSIQ– Get Free Report) last released its earnings results on Thursday, May 9th. The solar energy provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. Canadian Solar had a net margin of 2.80% and a return on equity of 5.61%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. The business’s quarterly revenue was down 21.1% compared to the same quarter last year. Analysts forecast that Canadian Solar will post 2.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Solar

Several hedge funds have recently modified their holdings of CSIQ. USCF Advisers LLC increased its position in shares of Canadian Solar by 87.5% in the fourth quarter. USCF Advisers LLC now owns 1,500 shares of the solar energy provider’s stock valued at $39,000 after buying an additional 700 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Canadian Solar by 72.1% in the first quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider’s stock valued at $146,000 after buying an additional 3,100 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Canadian Solar in the fourth quarter valued at $201,000. Campbell & CO Investment Adviser LLC increased its position in shares of Canadian Solar by 51.3% in the third quarter. Campbell & CO Investment Adviser LLC now owns 8,447 shares of the solar energy provider’s stock valued at $208,000 after buying an additional 2,865 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Canadian Solar by 9.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 15,291 shares of the solar energy provider’s stock worth $302,000 after purchasing an additional 1,283 shares in the last quarter. 52.36% of the stock is owned by institutional investors and hedge funds.

About Canadian Solar

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.

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