Canadian Solar Inc. (NASDAQ:CSIQ) – Stock analysts at Oppenheimer Holdings reduced their FY2016 earnings per share estimates for Canadian Solar in a report issued on Monday. Oppenheimer Holdings analyst C. Rusch now expects that the brokerage will post earnings of $1.48 per share for the year, down from their prior estimate of $1.62. Oppenheimer Holdings also issued estimates for Canadian Solar’s Q4 2016 earnings at $0.10 EPS, Q4 2017 earnings at $0.98 EPS and FY2017 earnings at $2.57 EPS.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Monday, November 21st. 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 net margin of 4.26% and a return on equity of 15.81%. The company earned $657.30 million during the quarter, compared to analyst estimates of $685.28 million. During the same quarter last year, the business posted $0.53 EPS. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis.

Earnings History and Estimates for Canadian Solar (NASDAQ:CSIQ)

CSIQ has been the subject of a number of other reports. Zacks Investment Research cut shares of Canadian Solar from a “buy” rating to a “hold” rating in a research report on Thursday, November 3rd. Roth Capital reiterated a “neutral” rating and issued a $11.00 target price on shares of Canadian Solar in a research report on Tuesday. Cowen and Company assumed coverage on shares of Canadian Solar in a research report on Thursday, August 25th. They issued an “outperform” rating and a $28.50 target price for the company. JMP Securities reiterated a “hold” rating on shares of Canadian Solar in a research report on Tuesday. Finally, Barclays PLC cut shares of Canadian Solar from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $24.00 to $14.00 in a research report on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.15.

Shares of Canadian Solar (NASDAQ:CSIQ) opened at 10.83 on Wednesday. The company’s 50-day moving average is $13.63 and its 200-day moving average is $14.58. The company has a market cap of $625.74 million, a price-to-earnings ratio of 4.52 and a beta of 3.19. Canadian Solar has a one year low of $10.25 and a one year high of $29.83.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Oceanic Investment Management LTD raised its position in shares of Canadian Solar by 38.5% in the second quarter. Oceanic Investment Management LTD now owns 622,168 shares of the company’s stock valued at $9,407,000 after buying an additional 172,800 shares during the period. Societe Generale acquired a new position in Canadian Solar during the second quarter valued at approximately $551,000. Tradition Capital Management LLC raised its position in Canadian Solar by 122.8% in the second quarter. Tradition Capital Management LLC now owns 58,225 shares of the company’s stock valued at $880,000 after buying an additional 32,090 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Canadian Solar by 263.6% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 80,934 shares of the company’s stock valued at $1,224,000 after buying an additional 58,672 shares during the last quarter. Finally, Shelton Capital Management raised its position in Canadian Solar by 55.7% in the second quarter. Shelton Capital Management now owns 97,800 shares of the company’s stock valued at $1,479,000 after buying an additional 35,000 shares during the last quarter. 37.48% of the stock is owned by institutional investors.

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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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