Canadian Solar Inc. (CSIQ) Receives Consensus Rating of “Hold” from Brokerages
Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have earned a consensus rating of “Hold” from the thirteen analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $17.44.
A number of research firms have recently weighed in on CSIQ. Zacks Investment Research raised Canadian Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub raised Canadian Solar from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Axiom Securities reaffirmed a “buy” rating on shares of Canadian Solar in a research note on Thursday, August 10th. Cowen and Company set a $16.00 price target on Canadian Solar and gave the stock a “hold” rating in a research note on Monday, August 14th. Finally, FBR & Co reaffirmed a “neutral” rating and set a $15.00 price target (up from $13.00) on shares of Canadian Solar in a research note on Tuesday, August 15th.
Hedge funds have recently modified their holdings of the stock. Pacad Investment Ltd. bought a new position in shares of Canadian Solar in the 2nd quarter valued at approximately $115,000. Legal & General Group Plc raised its stake in shares of Canadian Solar by 111.1% in the 2nd quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after acquiring an additional 4,100 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Canadian Solar by 20.0% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 18,614 shares of the solar energy provider’s stock valued at $228,000 after acquiring an additional 3,100 shares in the last quarter. Columbus Circle Investors bought a new position in shares of Canadian Solar in the 2nd quarter valued at approximately $318,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Canadian Solar in the 2nd quarter valued at approximately $323,000. 41.26% of the stock is currently owned by institutional investors and hedge funds.
Canadian Solar (NASDAQ CSIQ) traded down 0.17% during mid-day trading on Friday, reaching $17.27. 3,037,266 shares of the company were exchanged. The company has a market cap of $1.00 billion, a P/E ratio of 40.92 and a beta of 3.12. The stock’s 50-day moving average is $16.39 and its 200-day moving average is $14.46. Canadian Solar has a 12 month low of $10.25 and a 12 month high of $18.12.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Monday, August 14th. The solar energy provider reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.01. Canadian Solar had a return on equity of 1.71% and a net margin of 1.01%. The company had revenue of $692.37 million during the quarter, compared to the consensus estimate of $631.05 million. During the same period last year, the business earned $0.68 EPS. The business’s quarterly revenue was down 14.1% on a year-over-year basis. Equities analysts expect that Canadian Solar will post $1.64 earnings per share for the current year.
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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.
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