Canadian Solar Inc. (CSIQ) Given “Hold” Rating at Cowen and Company
Canadian Solar Inc. (NASDAQ:CSIQ)‘s stock had its “hold” rating reaffirmed by investment analysts at Cowen and Company in a research note issued on Thursday.
A number of other research firms also recently issued reports on CSIQ. ValuEngine downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Canadian Solar in a report on Thursday, April 20th. Axiom Securities began coverage on shares of Canadian Solar in a report on Monday, April 17th. They set a “buy” rating and a $18.00 price objective on the stock. Roth Capital set a $12.00 price objective on shares of Canadian Solar and gave the stock a “hold” rating in a report on Wednesday, March 22nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Canadian Solar from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday, March 22nd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $16.20.
Shares of Canadian Solar (NASDAQ CSIQ) opened at 12.63 on Thursday. Canadian Solar has a 52-week low of $10.25 and a 52-week high of $16.49. The company has a market capitalization of $730.42 million, a price-to-earnings ratio of 25.11 and a beta of 2.78. The firm’s 50-day moving average is $13.17 and its 200 day moving average is $12.83.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Tuesday, June 6th. The solar energy provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by $0.14. Canadian Solar had a net margin of 4.26% and a return on equity of 15.60%. The business had revenue of $677 million during the quarter, compared to analyst estimates of $580.45 million. During the same period in the previous year, the business posted $0.39 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Canadian Solar will post $1.62 earnings per share for the current year.
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Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC increased its position in shares of Canadian Solar by 194.4% in the first quarter. SG Americas Securities LLC now owns 171,985 shares of the solar energy provider’s stock worth $2,110,000 after buying an additional 113,569 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Canadian Solar by 20.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,614 shares of the solar energy provider’s stock worth $228,000 after buying an additional 3,100 shares during the period. Wedbush Securities Inc. bought a new position in shares of Canadian Solar during the first quarter worth $189,000. BNP Paribas Arbitrage SA increased its position in shares of Canadian Solar by 4.5% in the first quarter. BNP Paribas Arbitrage SA now owns 39,792 shares of the solar energy provider’s stock worth $488,000 after buying an additional 1,700 shares during the period. Finally, Trellus Management Company LLC bought a new position in shares of Canadian Solar during the first quarter worth $245,000. 36.88% of the stock is currently owned by institutional investors.
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.
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