Canadian Solar (NASDAQ:CSIQ) was downgraded by research analysts at Axiom Securities from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Marketbeat Ratings reports. They presently have a $17.00 target price on the solar energy provider’s stock. Axiom Securities’ price objective would indicate a potential downside of 2.07% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. J P Morgan Chase & Co cut Canadian Solar from a “neutral” rating to an “underweight” rating and set a $15.00 price objective for the company. in a report on Tuesday. Cowen set a $18.00 price objective on Canadian Solar and gave the company a “hold” rating in a report on Monday. B. Riley set a $15.00 price objective on Canadian Solar and gave the company a “hold” rating in a report on Monday. Zacks Investment Research cut Canadian Solar from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Roth Capital raised Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.81.

Canadian Solar (NASDAQ:CSIQ) traded down $0.33 during trading hours on Friday, reaching $17.36. The company had a trading volume of 1,079,573 shares, compared to its average volume of 1,380,000. The firm has a market cap of $1,000.00, a PE ratio of 83.81, a P/E/G ratio of 0.70 and a beta of 3.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 0.95. Canadian Solar has a 1-year low of $10.86 and a 1-year high of $19.09.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. The firm had revenue of $912.20 million during the quarter, compared to analysts’ expectations of $812.37 million. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The company’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.27 EPS. equities research analysts predict that Canadian Solar will post 0.97 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. State Street Corp grew its position in Canadian Solar by 6.0% during the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after acquiring an additional 1,227 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Canadian Solar by 2.7% in 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 during the last quarter. Northern Trust Corp grew its position in shares of Canadian Solar by 11.7% in the 2nd quarter. Northern Trust Corp now owns 30,588 shares of the solar energy provider’s stock valued at $487,000 after buying an additional 3,198 shares during the last quarter. Global X MANAGEMENT CO LLC grew its position in shares of Canadian Solar by 9.5% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 41,031 shares of the solar energy provider’s stock valued at $691,000 after buying an additional 3,550 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Canadian Solar by 111.1% in the 2nd 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. Institutional investors and hedge funds own 42.52% of the company’s stock.

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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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