Oppenheimer Holdings Research Analysts Reduce Earnings Estimates for Canadian Solar Inc. (CSIQ)

Canadian Solar Inc. (NASDAQ:CSIQ) – Equities researchers at Oppenheimer Holdings reduced their Q2 2017 earnings estimates for shares of Canadian Solar in a research report issued on Tuesday, Zacks Investment Research reports. Oppenheimer Holdings analyst C. Rusch now forecasts that the solar energy provider will earn $0.30 per share for the quarter, down from their prior estimate of $0.48. Oppenheimer Holdings currently has a “Outperform” rating and a $31.00 target price on the stock. Oppenheimer Holdings also issued estimates for Canadian Solar’s Q4 2017 earnings at $1.41 EPS and FY2018 earnings at $2.66 EPS.

A number of other research analysts have also commented on CSIQ. Axiom Securities began coverage on shares of Canadian Solar in a research note on Monday. They issued a “buy” rating and a $18.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of Canadian Solar from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $15.36 to $16.00 in a report on Wednesday, February 22nd. FBR & Co reissued a “mkt perform” rating and issued a $13.00 price objective (up previously from $12.00) on shares of Canadian Solar in a report on Wednesday, March 22nd. Zacks Investment Research downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a report on Thursday, February 23rd. Finally, Roth Capital set a $12.00 price objective on shares of Canadian Solar and gave the company a “hold” rating in a report on Wednesday, March 22nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.49.

Earnings History and Estimates for Canadian Solar (NASDAQ:CSIQ)

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Canadian Solar (NASDAQ:CSIQ) traded down 0.81% during trading on Thursday, reaching $13.40. 707,620 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $12.93 and a 200-day moving average price of $13.00. The firm has a market cap of $774.60 million, a PE ratio of 11.96 and a beta of 2.78. Canadian Solar has a 12 month low of $10.25 and a 12 month high of $19.65.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Tuesday, March 21st. The solar energy provider reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.08. The business had revenue of $668.40 million for the quarter, compared to analyst estimates of $698.57 million. Canadian Solar had a return on equity of 15.60% and a net margin of 4.26%. The company’s quarterly revenue was down 40.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share.

A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of Canadian Solar by 149.1% in the third quarter. SG Americas Securities LLC now owns 90,840 shares of the solar energy provider’s stock valued at $1,248,000 after buying an additional 54,371 shares during the last quarter. BlackRock Group LTD increased its position in shares of Canadian Solar by 56.8% in the third quarter. BlackRock Group LTD now owns 1,509,978 shares of the solar energy provider’s stock valued at $20,748,000 after buying an additional 547,155 shares during the last quarter. Tradition Capital Management LLC increased its position in shares of Canadian Solar by 21.6% in the third quarter. Tradition Capital Management LLC now owns 70,775 shares of the solar energy provider’s stock valued at $972,000 after buying an additional 12,550 shares during the last quarter. Global X Management Co. LLC increased its position in shares of Canadian Solar by 27.1% in the third quarter. Global X Management Co. LLC now owns 21,742 shares of the solar energy provider’s stock valued at $299,000 after buying an additional 4,642 shares during the last quarter. Finally, Delta Lloyd NV increased its position in shares of Canadian Solar by 4.9% in the third quarter. Delta Lloyd NV now owns 550,188 shares of the solar energy provider’s stock valued at $7,560,000 after buying an additional 25,757 shares during the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.

Canadian Solar Company Profile

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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