Canadian Solar Inc. (NASDAQ:CSIQ) – Research analysts at FBR & Co decreased their FY2016 earnings per share estimates for Canadian Solar in a research report issued on Tuesday. FBR & Co analyst C. Driscoll now expects that the brokerage will post earnings of $1.34 per share for the year, down from their previous estimate of $1.62. FBR & Co currently has a “Market Perform” rating and a $12.00 target price on the stock. FBR & Co also issued estimates for Canadian Solar’s Q4 2016 earnings at $0.01 EPS, Q1 2017 earnings at $0.20 EPS, Q2 2017 earnings at $0.16 EPS, Q3 2017 earnings at $0.55 EPS, Q4 2017 earnings at $0.75 EPS and FY2017 earnings at $1.67 EPS.

Other equities research analysts have also recently issued reports about the company. Roth Capital set a $20.00 target price on Canadian Solar and gave the company a “buy” rating in a report on Sunday, August 21st. Morgan Stanley cut Canadian Solar from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $24.00 to $12.80 in a report on Wednesday, August 3rd. JMP Securities restated a “hold” rating on shares of Canadian Solar in a report on Tuesday. Standpoint Research restated a “buy” rating and set a $18.00 target price on shares of Canadian Solar in a report on Tuesday, September 6th. Finally, Barclays PLC cut Canadian Solar from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $24.00 to $14.00 in a report on Wednesday, August 24th. Two 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 stock. The stock presently has an average rating of “Hold” and an average price target of $21.15.

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

WARNING: “FY2016 EPS Estimates for Canadian Solar Inc. (CSIQ) Reduced by Analyst” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2016/11/26/fy2016-eps-estimates-for-canadian-solar-inc-csiq-reduced-by-analyst.html.

Shares of Canadian Solar (NASDAQ:CSIQ) opened at 11.58 on Thursday. Canadian Solar has a 12-month low of $10.25 and a 12-month high of $29.83. The firm has a market cap of $669.07 million, a P/E ratio of 4.83 and a beta of 3.19. The stock has a 50 day moving average price of $13.51 and a 200 day moving average price of $14.56.

Canadian Solar (NASDAQ:CSIQ) last released 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 the consensus estimate of $685.28 million. Canadian Solar had a return on equity of 15.60% and a net margin of 4.26%. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. WARNING: “FY2016 EPS Estimates for Canadian Solar Inc. (CSIQ) Reduced by Analyst” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2016/11/26/fy2016-eps-estimates-for-canadian-solar-inc-csiq-reduced-by-analyst.html.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. raised its position 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 during the period. Fox Run Management L.L.C. bought a new position in Canadian Solar during the second quarter worth $206,000. Palo Capital Inc. bought a new position in Canadian Solar during the second quarter worth $374,000. Prescott Group Capital Management L.L.C. raised its position in 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 worth $5,474,000 after buying an additional 109,921 shares during the period. Finally, Guinness Atkinson Asset Management Inc raised its position in Canadian Solar by 47.3% in the second quarter. Guinness Atkinson Asset Management Inc now owns 27,100 shares of the company’s stock worth $410,000 after buying an additional 8,700 shares during the period. 37.48% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:CSIQ

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