Canadian Solar Inc. (CSIQ) Receives Average Rating of “Hold” from Analysts

Canadian Solar Inc. (NASDAQ:CSIQ) has been given a consensus recommendation of “Hold” by the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. One investment 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 12-month price target among brokerages that have issued a report on the stock in the last year is $18.81.

A number of equities analysts have commented on CSIQ shares. Zacks Investment Research downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Cowen reaffirmed a “hold” rating and set a $17.00 target price on shares of Canadian Solar in a research note on Sunday, October 22nd. B. Riley reaffirmed a “neutral” rating on shares of Canadian Solar in a research note on Wednesday, November 1st. Roth Capital raised shares of Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Friday, November 10th. Finally, Axiom Securities set a $26.00 target price on shares of Canadian Solar and gave the stock a “buy” rating in a research note on Wednesday, November 15th.

Several institutional investors and hedge funds have recently made changes to their positions in CSIQ. Schwab Charles Investment Management Inc. increased its position in shares of Canadian Solar by 83.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 49,323 shares of the solar energy provider’s stock valued at $786,000 after acquiring an additional 22,399 shares during the last quarter. Legal & General Group Plc increased its position in shares of Canadian Solar by 111.1% during the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after acquiring an additional 4,100 shares during the last quarter. Northern Trust Corp increased its position in shares of Canadian Solar by 11.7% during the second quarter. Northern Trust Corp now owns 30,588 shares of the solar energy provider’s stock valued at $487,000 after acquiring an additional 3,198 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Canadian Solar by 9.0% during the second quarter. California Public Employees Retirement System now owns 156,500 shares of the solar energy provider’s stock valued at $2,491,000 after acquiring an additional 12,900 shares during the last quarter. Finally, State Street Corp increased its position in shares of Canadian Solar by 6.0% during the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after acquiring an additional 1,227 shares during the last quarter. Institutional investors and hedge funds own 41.89% of the company’s stock.

Canadian Solar (NASDAQ CSIQ) traded up $0.32 during trading hours on Tuesday, hitting $15.83. 509,326 shares of the stock traded hands, compared to its average volume of 840,741. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. Canadian Solar has a 12-month low of $10.86 and a 12-month high of $19.09. The stock has a market capitalization of $896.95, a P/E ratio of 37.83, a P/E/G ratio of 0.31 and a beta of 2.71.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Thursday, November 9th. The solar energy provider reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $812.37 million. During the same period in the previous year, the firm earned $0.27 earnings per share. Canadian Solar’s quarterly revenue was up 38.8% compared to the same quarter last year. analysts expect 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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