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

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been assigned an average recommendation of “Hold” from the eleven research firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $18.31.

Several research analysts have commented on CSIQ shares. Mizuho began coverage on shares of Canadian Solar in a report on Friday, December 13th. They set an “outperform” rating and a $20.00 price objective for the company. Jefferies Financial Group initiated coverage on Canadian Solar in a research note on Friday, November 22nd. They set a “buy” rating and a $14.15 price objective on the stock. The Goldman Sachs Group downgraded Canadian Solar from a “neutral” rating to a “sell” rating and cut their target price for the company from $14.00 to $11.00 in a research report on Tuesday, December 17th. StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company dropped their price objective on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th.

Canadian Solar Stock Performance

NASDAQ CSIQ opened at $11.28 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65. Canadian Solar has a twelve month low of $9.56 and a twelve month high of $22.48. The business has a 50-day moving average price of $11.09 and a 200-day moving average price of $12.60. The firm has a market cap of $746.28 million, a price-to-earnings ratio of -94.00, a price-to-earnings-growth ratio of 0.74 and a beta of 1.26.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.13. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. As a group, equities research analysts predict that Canadian Solar will post -0.23 EPS for the current fiscal year.

Institutional Trading of Canadian Solar

A number of institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp lifted its position in Canadian Solar by 6.9% during the fourth quarter. Mackenzie Financial Corp now owns 5,523,565 shares of the solar energy provider’s stock valued at $61,422,000 after acquiring an additional 357,900 shares during the last quarter. Shell Asset Management Co. increased its position in shares of Canadian Solar by 11.4% during the fourth quarter. Shell Asset Management Co. now owns 40,499 shares of the solar energy provider’s stock worth $450,000 after purchasing an additional 4,134 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Canadian Solar during the 4th quarter valued at $308,000. Bayesian Capital Management LP acquired a new stake in Canadian Solar in the fourth quarter worth about $331,000. Finally, BNP Paribas Financial Markets grew its position in Canadian Solar by 32.0% during the 4th quarter. BNP Paribas Financial Markets now owns 323,238 shares of the solar energy provider’s stock worth $3,594,000 after purchasing an additional 78,306 shares during the last quarter. 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.