Canadian Solar Inc. (CSIQ) Receives Consensus Recommendation of “Hold” from Analysts

Canadian Solar Inc. (NASDAQ:CSIQ) has been assigned a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $18.67.

Several equities research analysts have issued reports on CSIQ shares. Zacks Investment Research cut Canadian Solar from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 28th. Cowen restated a “hold” rating and set a $17.00 price target on shares of Canadian Solar in a research report on Sunday, October 22nd. JPMorgan Chase & Co. lowered Canadian Solar from a “neutral” rating to an “underweight” rating and set a $15.00 price target for the company. in a research report on Tuesday, December 12th. Axiom Securities lowered Canadian Solar from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research report on Friday, December 15th. Finally, Roth Capital upgraded Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Friday, November 10th.

Canadian Solar (CSIQ) traded down $0.09 during mid-day trading on Monday, reaching $17.10. The company’s stock had a trading volume of 482,500 shares, compared to its average volume of 1,247,887. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 0.95. The firm has a market capitalization of $983.72, a PE ratio of 41.71, a price-to-earnings-growth ratio of 0.68 and a beta of 3.08. Canadian Solar has a one year low of $10.86 and a one year high of $19.09.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $912.20 million during the quarter, compared to analysts’ expectations of $812.37 million. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. analysts predict that Canadian Solar will post 0.97 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. J&P China Capital Management CO. Ltd. purchased a new position in Canadian Solar in the third quarter valued at $11,792,000. Quentec Asset Management LLC boosted its holdings in Canadian Solar by 18.6% in the second quarter. Quentec Asset Management LLC now owns 2,703,253 shares of the solar energy provider’s stock valued at $43,036,000 after purchasing an additional 424,601 shares during the period. Calamos Advisors LLC purchased a new position in Canadian Solar in the second quarter valued at $4,474,000. Delta Lloyd Asset Management N.V. purchased a new position in Canadian Solar in the second quarter valued at $3,662,000. Finally, Quantitative Investment Management LLC purchased a new position in Canadian Solar in the second quarter valued at $2,803,000. Institutional investors and hedge funds own 42.08% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was first published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this piece can be accessed at https://www.com-unik.info/2017/12/25/canadian-solar-inc-csiq-receives-consensus-recommendation-of-hold-from-analysts.html.

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.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

What are top analysts saying about Canadian Solar? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Canadian Solar and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit