Canadian Solar Given Average Rating of “Buy” by Analysts (NASDAQ:CSIQ)
Shares of Canadian Solar (NASDAQ:CSIQ) have been given a consensus rating of “Buy” by the eleven ratings firms that are currently covering the stock, Analyst Ratings News reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $41.57.
Canadian Solar (NASDAQ:CSIQ) traded up 4.14% during mid-day trading on Thursday, hitting $29.69. 1,675,066 shares of the company’s stock traded hands. Canadian Solar has a 52 week low of $10.20 and a 52 week high of $44.50. The stock’s 50-day moving average is $25.66 and its 200-day moving average is $31.86. The company has a market cap of $1.563 billion and a price-to-earnings ratio of 38.11.
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. On average, analysts predict that Canadian Solar will post $3.38 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Canadian Solar from an “outperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $29.00 price target on the stock. Separately, analysts at TheStreet downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Tuesday, May 20th. Finally, analysts at Nomura reiterated a “buy” rating on shares of Canadian Solar in a research note on Tuesday, May 20th. They now have a $45.00 price target on the stock, down previously from $55.00.
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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