Canadian Solar Inc. (NASDAQ:CSIQ) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have earned an average rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $23.33.

Several equities research analysts recently commented on CSIQ shares. Glj Research lifted their target price on shares of Canadian Solar from $9.10 to $12.28 and gave the stock a “sell” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group cut their price target on shares of Canadian Solar from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, August 26th. Oppenheimer decreased their price objective on Canadian Solar from $43.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, August 23rd. StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on Canadian Solar from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th.

Institutional Trading of Canadian Solar

Hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Canadian Solar in the 2nd quarter worth approximately $31,000. Daiwa Securities Group Inc. raised its position in Canadian Solar by 72.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider’s stock worth $146,000 after purchasing an additional 3,100 shares during the period. Janney Montgomery Scott LLC raised its position in Canadian Solar by 9.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,291 shares of the solar energy provider’s stock worth $302,000 after purchasing an additional 1,283 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Canadian Solar by 43.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock worth $232,000 after purchasing an additional 4,739 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Canadian Solar during the first quarter valued at about $336,000. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Trading Up 0.6 %

Shares of NASDAQ:CSIQ opened at $12.63 on Thursday. The company has a 50-day simple moving average of $13.94 and a 200 day simple moving average of $15.55. The company has a market capitalization of $835.59 million, a P/E ratio of 4.39, a price-to-earnings-growth ratio of 4.92 and a beta of 1.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.82 and a current ratio of 1.04. Canadian Solar has a 52-week low of $11.41 and a 52-week high of $26.85.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, August 22nd. The solar energy provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. Canadian Solar had a return on equity of 0.99% and a net margin of 0.56%. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm earned $2.39 EPS. The company’s quarterly revenue was down 30.8% compared to the same quarter last year. Sell-side analysts forecast that Canadian Solar will post 0.12 earnings per share for the current year.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.