Canadian Solar Inc. (CSIQ) Receives $20.01 Average PT from Analysts

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been given an average recommendation of “Hold” by the thirteen ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $20.01.

A number of equities research analysts have recently weighed in on the company. Vetr upgraded Canadian Solar from a “buy” rating to a “strong-buy” rating and set a $19.06 price target on the stock in a research note on Thursday, August 10th. BidaskClub downgraded Canadian Solar from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. FBR & Co reaffirmed a “neutral” rating and set a $15.00 target price (up previously from $13.00) on shares of Canadian Solar in a report on Tuesday, August 15th. Zacks Investment Research downgraded Canadian Solar from a “strong-buy” rating to a “hold” rating in a report on Monday, August 28th. Finally, Axiom Securities reissued a “buy” rating on shares of Canadian Solar in a report on Saturday, August 26th.

Institutional investors and hedge funds have recently modified their holdings of the stock. Pacad Investment Ltd. purchased a new stake in shares of Canadian Solar during the second quarter worth approximately $115,000. Legal & General Group Plc increased its position in shares of Canadian Solar by 111.1% during the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock worth $124,000 after purchasing an additional 4,100 shares in the last quarter. Columbus Circle Investors purchased a new stake in shares of Canadian Solar during the second quarter worth approximately $318,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Canadian Solar during the second quarter worth approximately $323,000. Finally, State Street Corp increased its position in shares of Canadian Solar by 6.0% during the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after purchasing an additional 1,227 shares in the last quarter. Hedge funds and other institutional investors own 42.52% of the company’s stock.

Shares of Canadian Solar (NASDAQ:CSIQ) remained flat at $$17.97 during mid-day trading on Thursday. The stock had a trading volume of 958,853 shares, compared to its average volume of 1,170,759. Canadian Solar has a 1-year low of $10.86 and a 1-year high of $19.09. The firm has a market cap of $1,042.31, a PE ratio of 85.57, a price-to-earnings-growth ratio of 0.71 and a beta of 3.09. The company has a quick ratio of 0.88, a current ratio of 0.95 and a debt-to-equity ratio of 0.45.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.22. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The business had revenue of $912.20 million for the quarter, compared to analyst estimates of $812.37 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s revenue was up 38.8% on a year-over-year basis. equities analysts anticipate that Canadian Solar will post 0.97 earnings per share for the current year.

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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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