Canadian Solar Given Consensus Rating of “Buy” by Brokerages (NASDAQ:CSIQ)
Shares of Canadian Solar (NASDAQ:CSIQ) have earned a consensus recommendation of “Buy” from the eleven ratings firms that are presently covering the stock, AnalystRatings.Net reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $42.31.
A number of analysts have recently weighed in on CSIQ shares. Analysts at JPMorgan Chase & Co. raised their price target on shares of Canadian Solar from $41.00 to $43.50 in a research note on Tuesday, July 15th. They now have an “overweight” rating on the stock. Separately, analysts at FBR Capital Markets upgraded shares of Canadian Solar from a “market perform” rating to an “outperform” rating in a research note on Monday, July 7th. They now have a $40.00 price target on the stock. Finally, analysts at Canaccord Genuity initiated coverage on shares of Canadian Solar in a research note on Wednesday, July 2nd. They set a “buy” rating and a $43.00 price target on the stock.
Shares of Canadian Solar (NASDAQ:CSIQ) opened at 25.41 on Thursday. Canadian Solar has a 52-week low of $10.55 and a 52-week high of $44.50. The stock’s 50-day moving average is $27.94 and its 200-day moving average is $30.73. The company has a market cap of $1.338 billion and a price-to-earnings ratio of 34.40.
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 $3.27 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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