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

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been assigned an average rating of “Hold” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $18.31.

A number of equities analysts have issued reports on the company. Citigroup downgraded Canadian Solar from a “neutral” rating to a “sell” rating and cut their price target for the company from $19.00 to $11.00 in a research note on Tuesday, October 22nd. The Goldman Sachs Group cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and lowered their target price for the company from $14.00 to $11.00 in a report on Tuesday, December 17th. Jefferies Financial Group started coverage on shares of Canadian Solar in a research report on Friday, November 22nd. They set a “buy” rating and a $14.15 price target for the company. Wells Fargo & Company reduced their target price on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Finally, Mizuho began coverage on Canadian Solar in a research note on Friday, December 13th. They set an “outperform” rating and a $20.00 price objective on the stock.

Canadian Solar Stock Up 0.3 %

Shares of CSIQ opened at $10.24 on Friday. Canadian Solar has a 52 week low of $10.09 and a 52 week high of $24.32. The stock has a market capitalization of $677.48 million, a price-to-earnings ratio of -85.33, a PEG ratio of 0.68 and a beta of 1.27. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06. The stock has a fifty day moving average of $11.78 and a 200-day moving average of $13.27.

Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.13. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned $0.32 EPS. Canadian Solar’s revenue for the quarter was down 18.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Canadian Solar will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Canadian Solar

Large investors have recently bought and sold shares of the business. USCF Advisers LLC raised its stake in Canadian Solar by 66.7% during the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock valued at $28,000 after purchasing an additional 1,000 shares in the last quarter. Quarry LP bought a new position in shares of Canadian Solar in the second quarter worth about $31,000. Miracle Mile Advisors LLC bought a new position in Canadian Solar during the 4th quarter worth about $133,000. Daiwa Securities Group Inc. grew its holdings in Canadian Solar by 20.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock worth $149,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Private Advisor Group LLC bought a new position in Canadian Solar during the 3rd quarter worth about $219,000. 52.36% of the stock is currently owned by institutional investors.

Canadian Solar Company Profile

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.