Canadian Solar Inc. (CSIQ) Given Consensus Recommendation of “Hold” by Brokerages

Canadian Solar Inc. (NASDAQ:CSIQ) has received an average rating of “Hold” from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $20.01.

CSIQ has been the subject of several research analyst reports. B. Riley restated a “neutral” rating on shares of Canadian Solar in a research note on Wednesday, November 1st. Barclays downgraded shares of Canadian Solar from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $12.00 to $14.00 in a research note on Monday, August 21st. Axiom Securities set a $26.00 price objective on shares of Canadian Solar and gave the company a “buy” rating in a research note on Wednesday, November 15th. BidaskClub upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th.

Large investors have recently made changes to their positions in the company. Pacad Investment Ltd. purchased a new stake in shares of Canadian Solar in the second quarter valued at about $115,000. Legal & General Group Plc raised its holdings in shares of Canadian Solar by 111.1% in the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after buying an additional 4,100 shares during the last quarter. Columbus Circle Investors purchased a new stake in shares of Canadian Solar in the second quarter valued at about $318,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Canadian Solar in the second quarter valued at about $323,000. Finally, State Street Corp raised its holdings in shares of Canadian Solar by 6.0% in the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after buying an additional 1,227 shares during the last quarter. 42.52% of the stock is owned by institutional investors and hedge funds.

Canadian Solar (CSIQ) traded up $0.24 during midday trading on Thursday, reaching $17.97. 944,458 shares of the company’s stock traded hands, compared to its average volume of 1,244,855. The company has a quick ratio of 0.88, a current ratio of 0.95 and a debt-to-equity ratio of 0.45. Canadian Solar has a one year low of $10.86 and a one year high of $19.09. The firm has a market capitalization of $1,030.00, a P/E ratio of 87.48, a PEG ratio of 0.73 and a beta of 3.12.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. Canadian Solar had a net margin of 0.84% and a return on equity of 1.32%. The company had revenue of $912.20 million during the quarter, compared to the consensus estimate of $812.37 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. Canadian Solar’s revenue for the quarter was up 38.8% on a year-over-year basis. sell-side analysts anticipate that Canadian Solar will post 0.97 earnings per share for the current year.

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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.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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