Canadian Solar (CSIQ) Lifted to “Hold” at BidaskClub

Canadian Solar (NASDAQ:CSIQ) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday.

CSIQ has been the topic of several other research reports. Goldman Sachs Group assumed coverage on shares of Canadian Solar in a research report on Tuesday, January 9th. They set a “neutral” rating and a $19.00 price target on the stock. Zacks Investment Research raised shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, November 13th. ValuEngine raised shares of Canadian Solar from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. B. Riley set a $15.00 price objective on shares of Canadian Solar and gave the company a “hold” rating in a research note on Monday, December 11th. Finally, Cowen reissued a “hold” rating and issued a $17.00 price objective on shares of Canadian Solar in a research note on Sunday, October 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.91.

Canadian Solar (CSIQ) traded down $0.26 during midday trading on Thursday, hitting $14.89. 1,117,891 shares of the company traded hands, compared to its average volume of 842,139. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.88. The firm has a market cap of $861.09, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 0.31 and a beta of 2.71. Canadian Solar has a twelve month low of $10.86 and a twelve month high of $19.09.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. The business had revenue of $912.20 million for the quarter, compared to analyst estimates of $812.37 million. Canadian Solar had a net margin of 0.84% and a return on equity of 1.32%. The firm’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. equities research analysts predict that Canadian Solar will post 0.97 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in CSIQ. J&P China Capital Management CO. Ltd. bought a new position in shares of Canadian Solar during the third quarter valued at $11,792,000. Hussman Strategic Advisors Inc. bought a new position in shares of Canadian Solar during the third quarter valued at $2,526,000. Calamos Advisors LLC raised its stake in shares of Canadian Solar by 45.2% during the third quarter. Calamos Advisors LLC now owns 408,073 shares of the solar energy provider’s stock valued at $6,872,000 after acquiring an additional 127,073 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Canadian Solar during the fourth quarter valued at $1,940,000. Finally, Columbus Circle Investors raised its stake in shares of Canadian Solar by 292.7% during the third quarter. Columbus Circle Investors now owns 78,380 shares of the solar energy provider’s stock valued at $1,320,000 after acquiring an additional 58,421 shares during the last quarter. 41.82% of the stock is owned by hedge funds and other institutional investors.

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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.

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