Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have earned an average rating of “Hold” from the sixteen ratings firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $16.23.
CSIQ has been the topic of a number of recent analyst reports. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Canadian Solar in a research report on Thursday, April 20th. Axiom Securities started coverage on Canadian Solar in a research note on Monday, April 17th. They set a “buy” rating and a $18.00 price objective for the company. ValuEngine cut Canadian Solar from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Cowen and Company set a $13.00 price target on Canadian Solar and gave the stock a “hold” rating in a research note on Monday, July 10th. Finally, BidaskClub cut Canadian Solar from a “buy” rating to a “hold” rating in a research note on Tuesday.
Canadian Solar (NASDAQ CSIQ) opened at 16.78 on Monday. The company has a market cap of $970.42 million, a P/E ratio of 33.36 and a beta of 3.08. The company’s 50-day moving average is $15.35 and its 200-day moving average is $13.62. Canadian Solar has a 12 month low of $10.25 and a 12 month high of $18.12.
Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Tuesday, June 6th. The solar energy provider reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.04 by $0.14. Canadian Solar had a return on equity of 7.12% and a net margin of 1.04%. The company had revenue of $677 million for the quarter, compared to analyst estimates of $580.45 million. During the same period last year, the firm posted $0.39 earnings per share. The business’s revenue was down 6.2% on a year-over-year basis. On average, equities research analysts expect that Canadian Solar will post $1.54 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC raised its position in shares of Canadian Solar by 194.4% in the first quarter. SG Americas Securities LLC now owns 171,985 shares of the solar energy provider’s stock worth $2,110,000 after buying an additional 113,569 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Canadian Solar by 233.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,599 shares of the solar energy provider’s stock valued at $535,000 after buying an additional 30,523 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Canadian Solar by 4.5% in the first quarter. BNP Paribas Arbitrage SA now owns 39,792 shares of the solar energy provider’s stock valued at $488,000 after buying an additional 1,700 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Canadian Solar during the first quarter valued at $189,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Canadian Solar by 27.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,514 shares of the solar energy provider’s stock valued at $189,000 after buying an additional 3,350 shares during the last quarter. 35.37% of the stock is currently owned by institutional investors.
About Canadian Solar
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
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