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

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been given an average recommendation of “Hold” by the ten analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.94.

A number of brokerages have recently weighed in on CSIQ. Oppenheimer dropped their price objective on Canadian Solar from $43.00 to $27.00 and set an “outperform” rating for the company in a research note on Friday, August 23rd. Wells Fargo & Company dropped their target price on Canadian Solar from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, December 5th. StockNews.com raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Monday. Citigroup cut shares of Canadian Solar from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $19.00 to $11.00 in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group initiated coverage on shares of Canadian Solar in a report on Friday, November 22nd. They set a “buy” rating and a $14.15 target price on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Canadian Solar in the 2nd quarter valued at $31,000. Daiwa Securities Group Inc. raised its stake in Canadian Solar by 20.3% in the third quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock valued at $149,000 after buying an additional 1,500 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Canadian Solar in the third quarter valued at $219,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Canadian Solar by 43.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock worth $232,000 after buying an additional 4,739 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Canadian Solar by 27.6% during 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. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Trading Up 1.0 %

Shares of CSIQ stock opened at $12.65 on Friday. Canadian Solar has a 1-year low of $10.91 and a 1-year high of $26.85. The firm has a market cap of $836.91 million, a PE ratio of -105.42, a price-to-earnings-growth ratio of 1.17 and a beta of 1.29. The company has a 50-day moving average of $13.17 and a two-hundred day moving average of $14.61. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. On average, analysts predict that Canadian Solar will post 0.41 EPS 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.