Roth Mkm Reaffirms Buy Rating for Canadian Solar (NASDAQ:CSIQ)

Roth Mkm reissued their buy rating on shares of Canadian Solar (NASDAQ:CSIQ) in a report released on Wednesday, Benzinga reports. The firm currently has a $25.00 target price on the solar energy provider’s stock.

Several other analysts have also recently issued reports on CSIQ. Wells Fargo & Company reduced their price objective on Canadian Solar from $28.00 to $23.00 and set an equal weight rating on the stock in a research note on Tuesday, March 19th. The Goldman Sachs Group dropped their target price on Canadian Solar from $28.00 to $24.00 and set a neutral rating on the stock in a report on Friday, March 15th. StockNews.com raised Canadian Solar from a sell rating to a hold rating in a report on Thursday, April 11th. Daiwa Capital Markets assumed coverage on Canadian Solar in a report on Monday, March 11th. They issued a neutral rating and a $21.00 target price on the stock. Finally, Citigroup dropped their target price on Canadian Solar from $26.00 to $24.00 and set a neutral rating on the stock in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $29.00.

Canadian Solar Trading Up 3.1 %

CSIQ opened at $18.20 on Wednesday. Canadian Solar has a one year low of $14.11 and a one year high of $45.29. The stock has a market capitalization of $1.20 billion, a PE ratio of 6.32, a P/E/G ratio of 0.33 and a beta of 1.29. The business’s 50 day moving average price is $17.08 and its 200 day moving average price is $20.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.79 and a current ratio of 1.02.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Thursday, May 9th. The solar energy provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. Canadian Solar had a return on equity of 5.61% and a net margin of 2.80%. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. The firm’s revenue was down 21.1% compared to the same quarter last year. As a group, equities research analysts expect that Canadian Solar will post 2.2 EPS for the current year.

Institutional Investors Weigh In On Canadian Solar

Several hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Canadian Solar by 3.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,844 shares of the solar energy provider’s stock worth $390,000 after buying an additional 556 shares during the period. USCF Advisers LLC boosted its stake in shares of Canadian Solar by 87.5% during the fourth quarter. USCF Advisers LLC now owns 1,500 shares of the solar energy provider’s stock worth $39,000 after buying an additional 700 shares during the period. Green Alpha Advisors LLC lifted its position in Canadian Solar by 1.9% in the first quarter. Green Alpha Advisors LLC now owns 41,136 shares of the solar energy provider’s stock valued at $813,000 after purchasing an additional 766 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Canadian Solar by 8.0% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 12,481 shares of the solar energy provider’s stock valued at $326,000 after purchasing an additional 928 shares during the period. Finally, Scotia Capital Inc. lifted its position in Canadian Solar by 3.0% in the fourth quarter. Scotia Capital Inc. now owns 39,400 shares of the solar energy provider’s stock valued at $1,033,000 after purchasing an additional 1,130 shares during the period. Institutional investors and hedge funds own 52.36% of the company’s stock.

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.