A number of other equities research analysts also recently issued reports on CSIQ. Cowen and Company set a $13.00 price target on Canadian Solar and gave the stock a hold rating in a research report on Monday, July 10th. Oppenheimer Holdings, Inc. reissued an outperform rating and set a $31.00 price target on shares of Canadian Solar in a research report on Thursday, April 20th. Finally, ValuEngine downgraded Canadian Solar from a buy rating to a hold rating in a research report on Friday, June 2nd. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $16.91.
Shares of Canadian Solar (CSIQ) opened at 17.20 on Friday. The company has a 50-day moving average price of $16.43 and a 200 day moving average price of $13.93. Canadian Solar has a 52 week low of $10.25 and a 52 week high of $18.12. The firm has a market cap of $994.71 million, a price-to-earnings ratio of 34.19 and a beta of 3.09.
Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Tuesday, June 6th. The solar energy provider reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.14. The firm had revenue of $677 million for the quarter, compared to the consensus estimate of $580.45 million. Canadian Solar had a return on equity of 7.12% and a net margin of 1.04%. Canadian Solar’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. Analysts expect that Canadian Solar will post $1.54 EPS for the current fiscal year.
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Large investors have recently modified their holdings of the stock. Pacad Investment Ltd. acquired a new stake in shares of Canadian Solar during the second quarter worth $115,000. Legal & General Group Plc increased its stake in shares of Canadian Solar by 111.1% in the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock worth $124,000 after buying an additional 4,100 shares in the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Canadian Solar during the first quarter worth $189,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Canadian Solar by 20.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,614 shares of the solar energy provider’s stock worth $228,000 after buying an additional 3,100 shares in the last quarter. Finally, Trellus Management Company LLC acquired a new stake in shares of Canadian Solar during the first quarter worth $245,000. 35.42% of the stock is currently owned by hedge funds and other 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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