Canadian Solar Inc. (NASDAQ:CSIQ) Receives Consensus Recommendation of “Buy” from Analysts
Canadian Solar Inc. (NASDAQ:CSIQ) has earned a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $23.66.
Several equities analysts have recently commented on the stock. Vetr upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $14.92 price target on the stock in a report on Tuesday, October 4th. Zacks Investment Research upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a report on Monday, September 26th. JMP Securities assumed coverage on shares of Canadian Solar in a report on Thursday, September 8th. They issued a “market perform” rating for the company. Standpoint Research reiterated a “buy” rating and issued a $18.00 price objective on shares of Canadian Solar in a report on Tuesday, September 6th. Finally, Cowen and Company assumed coverage on shares of Canadian Solar in a report on Thursday, August 25th. They issued an “outperform” rating and a $28.50 price objective for the company.
Canadian Solar (NASDAQ:CSIQ) traded up 1.95% on Monday, reaching $14.63. The company’s stock had a trading volume of 1,133,744 shares. The stock has a 50 day moving average price of $13.19 and a 200-day moving average price of $15.68. The company has a market capitalization of $842.76 million, a price-to-earnings ratio of 5.54 and a beta of 2.57. Canadian Solar has a 1-year low of $11.72 and a 1-year high of $29.83.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/canadian-solar-inc-nasdaqcsiq-receives-consensus-recommendation-of-buy-from-analysts.html
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Thursday, August 18th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.37 by $0.31. Canadian Solar had a net margin of 4.45% and a return on equity of 19.71%. The business had revenue of $805.90 million for the quarter, compared to analysts’ expectations of $735.82 million. During the same period in the previous year, the company posted $0.31 EPS. Canadian Solar’s revenue was up 26.6% on a year-over-year basis. Equities analysts predict that Canadian Solar will post $1.56 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of CSIQ. Riverhead Capital Management LLC boosted its stake in Canadian Solar by 16.2% in the second quarter. Riverhead Capital Management LLC now owns 3,476 shares of the company’s stock worth $239,000 after buying an additional 484 shares during the last quarter. Stevens Capital Management LP acquired a new stake in Canadian Solar during the second quarter worth $164,000. Landscape Capital Management L.L.C. acquired a new stake in Canadian Solar during the second quarter worth $166,000. BlackRock Inc. boosted its stake in Canadian Solar by 55.2% in the second quarter. BlackRock Inc. now owns 11,970 shares of the company’s stock worth $182,000 after buying an additional 4,256 shares during the last quarter. Finally, Guinness Asset Management Ltd boosted its stake in Canadian Solar by 53.2% in the second quarter. Guinness Asset Management Ltd now owns 12,100 shares of the company’s stock worth $183,000 after buying an additional 4,200 shares during the last quarter. 34.50% of the stock is currently owned by institutional investors and hedge funds.
Canadian Solar Company Profile
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
Receive News & Ratings for Canadian Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.