Canadian Solar Inc. (NASDAQ:CSIQ) posted its quarterly earnings results on Monday. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Canadian Solar had a return on equity of 19.73% and a net margin of 4.45%. The business had revenue of $657.30 million for the quarter, compared to analysts’ expectations of $685.28 million. During the same quarter in the prior year, the business earned $0.53 EPS. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis.

Shares of Canadian Solar (NASDAQ:CSIQ) opened at 10.65 on Wednesday. The firm has a market capitalization of $613.49 million, a price-to-earnings ratio of 4.04 and a beta of 3.19. Canadian Solar has a 1-year low of $10.25 and a 1-year high of $29.83. The company has a 50-day moving average price of $13.71 and a 200 day moving average price of $14.61.

Earnings History for Canadian Solar (NASDAQ:CSIQ)

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Riverhead Capital Management LLC boosted its position in shares of Canadian Solar by 16.2% in the second quarter. Riverhead Capital Management LLC now owns 3,476 shares of the company’s stock worth $239,000 after buying an additional 484 shares in the last quarter. KBC Group NV boosted 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 worth $141,000 after buying an additional 3,820 shares in the last quarter. Stevens Capital Management LP purchased a new position in shares of Canadian Solar during the second quarter worth approximately $164,000. Landscape Capital Management L.L.C. purchased a new position in shares of Canadian Solar during the second quarter worth approximately $166,000. Finally, BlackRock Inc. boosted 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 worth $182,000 after buying an additional 4,256 shares in the last quarter. 37.48% of the stock is currently owned by hedge funds and other institutional investors.

CSIQ has been the topic of several recent research reports. Roth Capital set a $20.00 price objective on Canadian Solar and gave the stock a “buy” rating in a research report on Sunday, August 21st. FBR & Co cut Canadian Solar from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $23.00 to $12.00 in a research report on Tuesday. Morgan Stanley cut Canadian Solar from an “overweight” rating to an “underweight” rating and lowered their price objective for the stock from $24.00 to $12.80 in a research report on Wednesday, August 3rd. Barclays PLC cut Canadian Solar from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $24.00 to $14.00 in a research report on Wednesday, August 24th. Finally, Standpoint Research reiterated a “buy” rating and set a $18.00 price objective on shares of Canadian Solar in a research report on Tuesday, September 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.90.

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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.

5 Day Chart for NASDAQ:CSIQ

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