Cowen and Company Analysts Give Canadian Solar Inc. (NASDAQ:CSIQ) a $13.00 Price Target
CSIQ has been the subject of a number of other research reports. Oppenheimer Holdings, Inc. restated an outperform rating and set a $31.00 target price on shares of Canadian Solar in a research report on Thursday, April 20th. ValuEngine lowered shares of Canadian Solar from a buy rating to a hold rating in a research report on Friday, June 2nd. Axiom Securities restated a sell rating on shares of Canadian Solar in a research report on Friday, June 9th. J P Morgan Chase & Co dropped their target price on shares of Canadian Solar from $16.00 to $14.00 and set a neutral rating for the company in a research report on Wednesday, March 22nd. Finally, FBR & Co reiterated a mkt perform rating and set a $13.00 price objective (up previously from $12.00) on shares of Canadian Solar in a research report on Wednesday, March 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $16.50.
Shares of Canadian Solar (NASDAQ:CSIQ) traded up 5.51% on Monday, hitting $17.63. 1,742,897 shares of the stock traded hands. The firm has a market cap of $1.02 billion, a P/E ratio of 35.05 and a beta of 3.09. Canadian Solar has a 52 week low of $10.25 and a 52 week high of $18.12. The stock has a 50-day moving average price of $15.60 and a 200 day moving average price of $13.70.
Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Tuesday, June 6th. The solar energy provider reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.14. Canadian Solar had a return on equity of 7.12% and a net margin of 1.04%. The company had revenue of $677 million for the quarter, compared to the consensus estimate of $580.45 million. During the same quarter in the prior year, the company posted $0.39 EPS. Canadian Solar’s revenue was down 6.2% compared to the same quarter last year. Equities research analysts predict that Canadian Solar will post $1.54 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its position in Canadian Solar by 111.1% in the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after buying an additional 4,100 shares in the last quarter. Wedbush Securities Inc. bought a new position in Canadian Solar during the first quarter valued at approximately $189,000. Raymond James Financial Services Advisors Inc. increased its position in Canadian Solar by 27.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,514 shares of the solar energy provider’s stock valued at $189,000 after buying an additional 3,350 shares in the last quarter. Columbus Circle Investors bought a new position in Canadian Solar during the second quarter valued at approximately $318,000. Finally, Trellus Management Company LLC bought a new position in Canadian Solar during the first quarter valued at approximately $245,000. 35.42% of the stock is currently owned by institutional investors.
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.
Receive News & Stock Ratings for Canadian Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar Inc. and related stocks with our FREE daily email newsletter.