Canadian Solar Inc. (CSIQ) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have earned an average rating of “Hold” from the thirteen research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $17.44.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Canadian Solar from a “strong-buy” rating to a “hold” rating in a report on Monday, August 28th. Axiom Securities reiterated a “buy” rating on shares of Canadian Solar in a report on Saturday, August 26th. Barclays PLC downgraded shares of Canadian Solar from an “equal weight” rating to an “underweight” rating and increased their price target for the stock from $12.00 to $14.00 in a report on Monday, August 21st. BidaskClub downgraded shares of Canadian Solar from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. Finally, FBR & Co reiterated a “neutral” rating and issued a $15.00 price target (up previously from $13.00) on shares of Canadian Solar in a report on Tuesday, August 15th.
Canadian Solar (NASDAQ CSIQ) traded down 1.19% during mid-day trading on Wednesday, reaching $15.75. 573,570 shares of the company’s stock were exchanged. The firm has a market capitalization of $912.67 million, a P/E ratio of 37.32 and a beta of 3.15. Canadian Solar has a one year low of $10.25 and a one year high of $18.12. The company’s 50-day moving average is $16.23 and its 200 day moving average is $14.84.
Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Monday, August 14th. The solar energy provider reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.01. Canadian Solar had a net margin of 1.01% and a return on equity of 1.71%. The business had revenue of $692.37 million during the quarter, compared to the consensus estimate of $631.05 million. During the same period in the previous year, the company posted $0.68 earnings per share. The firm’s revenue was down 14.1% on a year-over-year basis. Equities analysts predict that Canadian Solar will post $1.62 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. State Street Corp boosted its position in Canadian Solar by 6.0% in the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after purchasing an additional 1,227 shares in the last quarter. Global X Management Co. LLC lifted its position in shares of Canadian Solar by 7.5% during the 1st 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 in the last quarter. Van ECK Associates Corp lifted its position in shares of Canadian Solar by 2.7% during the 2nd quarter. Van ECK Associates Corp now owns 84,436 shares of the solar energy provider’s stock valued at $1,344,000 after buying an additional 2,217 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Canadian Solar by 2.1% during the 1st 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 in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Canadian Solar by 20.0% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 41.81% 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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