Oppenheimer Holdings Weighs in on Canadian Solar Inc.’s Q1 2017 Earnings (CSIQ)
Canadian Solar Inc. (NASDAQ:CSIQ) – Oppenheimer Holdings issued their Q1 2017 EPS estimates for Canadian Solar in a research report issued on Monday. Oppenheimer Holdings analyst C. Rusch anticipates that the firm will earn $0.25 per share for the quarter. Oppenheimer Holdings also issued estimates for Canadian Solar’s Q2 2017 earnings at $0.48 EPS and Q3 2017 earnings at $0.86 EPS.
A number of other equities analysts also recently weighed in on the stock. Vetr downgraded shares of Canadian Solar from a “strong-buy” rating to a “hold” rating and set a $14.42 target price for the company. in a research note on Tuesday, August 9th. Morgan Stanley downgraded shares of Canadian Solar from an “overweight” rating to an “underweight” rating and decreased their price target for the company from $24.00 to $12.80 in a research note on Wednesday, August 3rd. Zacks Investment Research downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $20.00 price target on shares of Canadian Solar in a research note on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $21.90.
Canadian Solar (NASDAQ:CSIQ) traded down 0.37% during trading on Tuesday, hitting $10.64. 1,622,669 shares of the stock were exchanged. Canadian Solar has a 52 week low of $10.25 and a 52 week high of $29.83. The firm’s 50-day moving average is $13.80 and its 200 day moving average is $14.65. The firm has a market cap of $612.92 million, a PE ratio of 4.03 and a beta of 3.19.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings data on Monday, November 21st. The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. Canadian Solar had a net margin of 4.45% and a return on equity of 19.73%. The company earned $657.30 million during the quarter, compared to the consensus estimate of $685.28 million. During the same period in the prior year, the business posted $0.53 EPS. The company’s quarterly revenue was down 22.7% on a year-over-year basis.
Hedge funds and other institutional investors have recently modified their holdings of the company. KBC Group NV raised its position in shares of Canadian Solar by 59.1% in the third quarter. KBC Group NV now owns 10,289 shares of the company’s stock valued at $141,000 after buying an additional 3,820 shares during the last quarter. Stevens Capital Management LP acquired a new position in shares of Canadian Solar during the second quarter valued at about $164,000. Landscape Capital Management L.L.C. acquired a new position in shares of Canadian Solar during the second quarter valued at about $166,000. BlackRock Inc. raised its position in shares of Canadian Solar by 55.2% in the second quarter. BlackRock Inc. now owns 11,970 shares of the company’s stock valued at $182,000 after buying an additional 4,256 shares during the last quarter. Finally, Guinness Asset Management Ltd raised its position 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 valued at $183,000 after buying an additional 4,200 shares during the last quarter. Institutional investors and hedge funds own 37.48% 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.
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