Canadian Solar Price Target Cut to $35.00 by Analysts at Roth Capital (CSIQ)
Analysts at Roth Capital decreased their price objective on shares of Canadian Solar (NASDAQ:CSIQ) from $50.00 to $35.00 in a research report issued to clients and investors on Friday, Analyst Ratings Network.com reports. Roth Capital’s price target would suggest a potential upside of 58.59% from the stock’s previous close.
Shares of Canadian Solar (NASDAQ:CSIQ) traded down 12.84% during mid-day trading on Friday, hitting $22.0699. 10,110,350 shares of the company’s stock traded hands. Canadian Solar has a 52 week low of $7.09 and a 52 week high of $44.50. The stock’s 50-day moving average is $28.0 and its 200-day moving average is $32.46. The company has a market cap of $1.209 billion and a price-to-earnings ratio of 40.19.
Canadian Solar (NASDAQ:CSIQ) last released its earnings data on Friday, May 16th. The company reported $0.07 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.12 by $0.05. The company had revenue of $466.30 million for the quarter, compared to the consensus estimate of $431.98 million. During the same quarter last year, the company posted ($0.10) earnings per share. Canadian Solar’s revenue was up 76.9% compared to the same quarter last year. Analysts expect that Canadian Solar will post $3.68 EPS for the current fiscal year.
CSIQ has been the subject of a number of other recent research reports. Analysts at Dougherty & Co initiated coverage on shares of Canadian Solar in a research note on Tuesday, March 11th. They set a “buy” rating on the stock. Separately, analysts at Goldman Sachs initiated coverage on shares of Canadian Solar in a research note on Friday, March 7th. They set a “neutral” rating on the stock. Finally, analysts at Northland Securities raised their price target on shares of Canadian Solar from $40.00 to $51.00 in a research note on Tuesday, March 4th. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.75.
Canadian Solar Inc (NASDAQ:CSIQ) designs, develops, and manufactures solar wafers, cells and solar module products that convert sunlight into electricity for a variety of uses.
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