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

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have received a consensus rating of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $27.03.

A number of research firms have commented on CSIQ. Roth Mkm reaffirmed a “buy” rating and issued a $25.00 target price on shares of Canadian Solar in a research report on Wednesday, May 22nd. StockNews.com downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Glj Research boosted their price objective on shares of Canadian Solar from $9.10 to $12.28 and gave the company a “sell” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price objective on Canadian Solar from $17.00 to $20.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 16th. Finally, UBS Group lowered their target price on Canadian Solar from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, June 12th.

Institutional Trading of Canadian Solar

Institutional investors and hedge funds have recently bought and sold shares of the stock. USCF Advisers LLC increased its stake in 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 acquiring an additional 700 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of 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 buying an additional 3,100 shares during the period. Private Advisor Group LLC purchased a new position in Canadian Solar during the 4th quarter valued at about $201,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Canadian Solar by 27.6% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,435 shares of the solar energy provider’s stock worth $257,000 after acquiring an additional 3,768 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Canadian Solar by 8.0% in the 2nd quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider’s stock worth $276,000 after buying an additional 1,383 shares during the last quarter. 52.36% of the stock is currently owned by institutional investors.

Canadian Solar Stock Down 2.7 %

Shares of NASDAQ CSIQ traded down $0.37 during trading on Friday, reaching $13.54. The company had a trading volume of 1,189,390 shares, compared to its average volume of 1,538,286. The business’s 50-day moving average is $16.17 and its 200 day moving average is $18.10. The company has a quick ratio of 0.79, a current ratio of 1.02 and a debt-to-equity ratio of 0.53. The stock has a market cap of $895.79 million, a PE ratio of 4.70, a P/E/G ratio of 0.30 and a beta of 1.29. Canadian Solar has a 12-month low of $13.04 and a 12-month high of $34.85.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Thursday, May 9th. The solar energy provider reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.20. Canadian Solar had a return on equity of 5.61% and a net margin of 2.80%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the business posted $1.19 EPS. The company’s revenue was down 21.1% compared to the same quarter last year. As a group, equities analysts forecast that Canadian Solar will post 2.07 earnings per share for the current fiscal 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.