Canadian Solar Receives Average Recommendation of “Buy” from Brokerages (NASDAQ:CSIQ)
Canadian Solar (NASDAQ:CSIQ) has earned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the stock, Stock Ratings Network reports. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $36.13.
A number of analysts have recently weighed in on CSIQ shares. Analysts at Northland Securities cut their price target on shares of Canadian Solar from $52.00 to $46.00 in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Roth Capital cut their price target on shares of Canadian Solar from $50.00 to $35.00 in a research note on Friday. Finally, 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.
Shares of Canadian Solar (NASDAQ:CSIQ) traded up 0.05% during mid-day trading on Monday, hitting $22.08. The stock had a trading volume of 2,239,384 shares. Canadian Solar has a 1-year low of $7.09 and a 1-year high of $44.50. The stock has a 50-day moving average of $28.0 and a 200-day moving average of $32.46. The company has a market cap of $1.162 billion and a price-to-earnings ratio of 29.51.
Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Friday, May 16th. The company reported $0.07 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted ($0.10) earnings per share. The company’s quarterly revenue was up 76.9% on a year-over-year basis. On average, analysts predict that Canadian Solar will post $3.39 earnings per share for the current fiscal year.
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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