Canadian Solar Inc. (NASDAQ:CSIQ) – Equities researchers at Oppenheimer Holdings dropped their Q4 2017 earnings per share (EPS) estimates for shares of Canadian Solar in a research report issued to clients and investors on Monday. Oppenheimer Holdings analyst C. Rusch now forecasts that the solar energy provider will post earnings per share of $1.20 for the quarter, down from their prior forecast of $1.27. Oppenheimer Holdings currently has a “Outperform” rating and a $31.00 target price on the stock. Oppenheimer Holdings also issued estimates for Canadian Solar’s FY2018 earnings at $2.70 EPS.

Other equities research analysts have also recently issued research reports about the stock. Axiom Securities reaffirmed a “buy” rating on shares of Canadian Solar in a report on Saturday, July 22nd. BidaskClub raised shares of Canadian Solar from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Cowen and Company set a $13.00 price target on shares of Canadian Solar and gave the stock a “hold” rating in a report on Monday, July 10th. Finally, ValuEngine cut shares of Canadian Solar from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.46.

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Canadian Solar (CSIQ) traded up 1.89% during trading on Wednesday, hitting $17.26. The stock had a trading volume of 412,530 shares. Canadian Solar has a 1-year low of $10.25 and a 1-year high of $18.12. The firm has a 50 day moving average price of $16.49 and a 200-day moving average price of $14.01. The firm has a market capitalization of $998.18 million, a PE ratio of 34.31 and a beta of 3.09.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Monday, August 14th. The solar energy provider reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. Canadian Solar had a return on equity of 1.73% and a net margin of 1.01%. The company had revenue of $692.37 million for the quarter, compared to the consensus estimate of $631.05 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. The firm’s revenue for the quarter was down 14.1% on a year-over-year basis.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSIQ. Trellus Management Company LLC acquired a new position in Canadian Solar during the first quarter worth $245,000. BNP Paribas Arbitrage SA raised its position in 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 in the last quarter. Wedbush Securities Inc. acquired a new position in Canadian Solar during the first quarter worth $189,000. Raymond James Financial Services Advisors Inc. raised its position in 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 in the last quarter. Finally, SG Americas Securities LLC raised its position in 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 in the last quarter. Institutional investors and hedge funds own 34.97% of the company’s stock.

About Canadian Solar

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.

Earnings History and Estimates for Canadian Solar (NASDAQ:CSIQ)

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