Canadian Solar Inc. (CSIQ) Receives Average Rating of “Buy” from Analysts
Canadian Solar Inc. (NASDAQ:CSIQ) has received a consensus recommendation of “Buy” from the thirteen ratings firms that are currently covering the firm. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.82.
CSIQ has been the subject of several research analyst reports. Vetr lowered Canadian Solar from a “strong-buy” rating to a “hold” rating and set a $14.42 price objective for the company. in a report on Tuesday, August 9th. Morgan Stanley lowered Canadian Solar from an “overweight” rating to an “underweight” rating and cut their price target for the company from $24.00 to $12.80 in a report on Wednesday, August 3rd. Zacks Investment Research lowered Canadian Solar from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. Finally, Roth Capital reissued a “buy” rating and set a $20.00 price target on shares of Canadian Solar in a report on Monday, August 8th.
Large investors have recently bought and sold shares of the company. KBC Group NV increased its stake in Canadian Solar by 59.1% in the third quarter. KBC Group NV now owns 10,289 shares of the company’s stock worth $141,000 after buying an additional 3,820 shares in the last quarter. Stevens Capital Management LP purchased a new stake in Canadian Solar during the second quarter worth approximately $164,000. Landscape Capital Management L.L.C. bought a new stake in shares of Canadian Solar during the second quarter worth about $166,000. BlackRock Inc. increased its stake in shares of Canadian Solar by 55.2% in the second quarter. BlackRock Inc. now owns 11,970 shares of the company’s stock worth $182,000 after buying an additional 4,256 shares during the period. Finally, Guinness Asset Management Ltd increased its stake in shares of Canadian Solar by 53.2% in the second quarter. Guinness Asset Management Ltd now owns 12,100 shares of the company’s stock worth $183,000 after buying an additional 4,200 shares during the period. Institutional investors own 37.11% of the company’s stock.
Canadian Solar (NASDAQ:CSIQ) opened at 11.70 on Monday. The company has a market capitalization of $673.98 million, a price-to-earnings ratio of 4.43 and a beta of 3.19. Canadian Solar has a 12 month low of $10.25 and a 12 month high of $29.83. The stock’s 50 day moving average price is $13.89 and its 200 day moving average price is $14.71.
Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Thursday, August 18th. The company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.31. Canadian Solar had a return on equity of 19.73% and a net margin of 4.45%. The company earned $805.90 million during the quarter, compared to analyst estimates of $735.82 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. Canadian Solar’s revenue was up 26.6% compared to the same quarter last year. Equities research analysts anticipate that Canadian Solar will post $1.59 earnings per share for the current fiscal year.
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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