Canadian Solar’s (NASDAQ:CSIQ) “Buy” Rating Reaffirmed at Axiom Securities
Canadian Solar Inc. (NASDAQ:CSIQ)‘s stock had its “buy” rating reissued by investment analysts at Axiom Securities in a note issued to investors on Saturday.
Several other analysts also recently commented on CSIQ. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $31.00 target price on shares of Canadian Solar in a research report on Thursday, April 20th. ValuEngine downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Cowen and Company boosted their target price on shares of Canadian Solar from $10.00 to $13.00 and gave the stock a “market perform” rating in a research report on Wednesday, June 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $16.20.
Shares of Canadian Solar (NASDAQ CSIQ) traded down 2.53% during trading on Friday, hitting $16.59. 1,752,559 shares of the stock were exchanged. Canadian Solar has a 12-month low of $10.25 and a 12-month high of $18.12. The stock has a market cap of $959.43 million, a price-to-earnings ratio of 32.98 and a beta of 3.08. The stock’s 50 day moving average is $14.69 and its 200-day moving average is $13.46.
Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Tuesday, June 6th. The solar energy provider reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.14. The business had revenue of $677 million during the quarter, compared to the consensus estimate of $580.45 million. Canadian Solar had a return on equity of 7.12% and a net margin of 1.04%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. Equities research analysts anticipate that Canadian Solar will post $1.54 EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Global X Management Co. LLC boosted its position in Canadian Solar by 7.5% in the first quarter. Global X Management Co. LLC now owns 22,345 shares of the solar energy provider’s stock valued at $274,000 after buying an additional 1,562 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake 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 valued at $488,000 after buying an additional 1,700 shares during the period. California Public Employees Retirement System raised its stake in shares of Canadian Solar by 2.1% in the first quarter. California Public Employees Retirement System now owns 143,600 shares of the solar energy provider’s stock valued at $1,762,000 after buying an additional 2,900 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake 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 valued at $228,000 after buying an additional 3,100 shares during the period. Finally, Wedbush Securities Inc. acquired a new stake in shares of Canadian Solar during the first quarter valued at about $189,000. Hedge funds and other institutional investors own 35.34% of the company’s stock.
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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