Canadian Solar Inc. (NASDAQ:CSIQ) has been assigned an average recommendation of “Buy” from the thirteen analysts that are presently covering the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $23.66.

Several equities analysts have recently weighed in on CSIQ shares. FBR & Co reissued a “buy” rating and issued a $32.00 price target on shares of Canadian Solar in a research note on Monday, June 27th. Canaccord Genuity reissued a “buy” rating and issued a $29.00 price target on shares of Canadian Solar in a research note on Wednesday, June 29th. Zacks Investment Research raised shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Tuesday, July 5th. Morgan Stanley downgraded shares of Canadian Solar from an “overweight” rating to an “underweight” rating and decreased their price target for the stock from $24.00 to $12.80 in a research note on Wednesday, August 3rd. Finally, Roth Capital reissued a “buy” rating and issued a $20.00 price target on shares of Canadian Solar in a research note on Monday, August 8th.

Canadian Solar (NASDAQ:CSIQ) opened at 14.71 on Monday. The company has a market capitalization of $847.37 million, a P/E ratio of 5.57 and a beta of 2.57. Canadian Solar has a one year low of $11.72 and a one year high of $29.83. The company’s 50-day moving average is $13.28 and its 200 day moving average is $15.58.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Thursday, August 18th. The company reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.31. The firm had revenue of $805.90 million for the quarter, compared to the consensus estimate of $735.82 million. Canadian Solar had a net margin of 4.45% and a return on equity of 19.71%. The company’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share. On average, equities analysts anticipate that Canadian Solar will post $1.56 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Pictet Asset Management Ltd. boosted its position in shares of Canadian Solar by 2.9% in the first quarter. Pictet Asset Management Ltd. now owns 1,074,754 shares of the company’s stock worth $24,472,000 after buying an additional 30,005 shares during the period. Ruffer LLP boosted its position in shares of Canadian Solar by 60.8% in the second quarter. Ruffer LLP now owns 1,061,914 shares of the company’s stock worth $16,061,000 after buying an additional 401,678 shares during the period. Quentec Asset Management LLC boosted its position in shares of Canadian Solar by 38.5% in the second quarter. Quentec Asset Management LLC now owns 1,025,265 shares of the company’s stock worth $15,502,000 after buying an additional 284,889 shares during the period. Neumeier Poma Investment Counsel LLC boosted its position in shares of Canadian Solar by 10.5% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 1,016,190 shares of the company’s stock worth $19,592,000 after buying an additional 96,255 shares during the period. Finally, BlackRock Group LTD boosted its position in shares of Canadian Solar by 0.9% in the second quarter. BlackRock Group LTD now owns 962,823 shares of the company’s stock worth $14,558,000 after buying an additional 8,399 shares during the period. Institutional investors and hedge funds own 34.50% 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.

5 Day Chart for NASDAQ:CSIQ

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