JMP Securities Reaffirms Hold Rating for Canadian Solar Inc. (CSIQ)
Canadian Solar Inc. (NASDAQ:CSIQ)‘s stock had its “hold” rating reiterated by JMP Securities in a report released on Tuesday.
Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Canadian Solar from a “buy” rating to a “hold” rating in a research note on Thursday, November 3rd. Roth Capital reissued a “neutral” rating and issued a $11.00 price target on shares of Canadian Solar in a research note on Tuesday. Cowen and Company assumed coverage on shares of Canadian Solar in a research note on Thursday, August 25th. They issued an “outperform” rating and a $28.50 price target for the company. Barclays PLC cut shares of Canadian Solar from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $24.00 to $14.00 in a research note on Wednesday, August 24th. Finally, Standpoint Research reissued a “buy” rating and issued a $18.00 price target on shares of Canadian Solar in a research note on Tuesday, September 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $21.15.
Canadian Solar (NASDAQ:CSIQ) opened at 10.65 on Tuesday. Canadian Solar has a 52 week low of $10.25 and a 52 week high of $29.83. The company has a market cap of $613.49 million, a P/E ratio of 4.04 and a beta of 3.19. The company’s 50-day moving average is $13.71 and its 200-day moving average is $14.61.
Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Monday, November 21st. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. The company earned $657.30 million during the quarter, compared to analysts’ expectations of $685.28 million. Canadian Solar had a net margin of 4.45% and a return on equity of 19.73%. Canadian Solar’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. On average, analysts anticipate that Canadian Solar will post $1.59 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of CSIQ. Ladenburg Thalmann Financial Services Inc. raised its stake in Canadian Solar by 29.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 64,901 shares of the company’s stock worth $1,252,000 after buying an additional 14,729 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Canadian Solar during the second quarter valued at approximately $206,000. Palo Capital Inc. bought a new position in shares of Canadian Solar during the second quarter valued at approximately $374,000. Prescott Group Capital Management L.L.C. raised its position in shares of Canadian Solar by 43.6% in the second quarter. Prescott Group Capital Management L.L.C. now owns 362,061 shares of the company’s stock valued at $5,474,000 after buying an additional 109,921 shares during the period. Finally, Guinness Atkinson Asset Management Inc raised its position in shares of Canadian Solar by 47.3% in the second quarter. Guinness Atkinson Asset Management Inc now owns 27,100 shares of the company’s stock valued at $410,000 after buying an additional 8,700 shares during the period. Institutional investors own 37.48% of the company’s stock.
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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.
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