Canadian Solar (CSIQ) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Canadian Solar (NASDAQ:CSIQ) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

A number of other equities analysts also recently commented on the company. Axiom Securities set a $26.00 price objective on Canadian Solar and gave the stock a buy rating in a research report on Wednesday, November 15th. Roth Capital upgraded Canadian Solar from a neutral rating to a buy rating and set a $24.00 price objective on the stock in a research report on Friday, November 10th. Goldman Sachs Group initiated coverage on Canadian Solar in a research report on Tuesday, January 9th. They set a neutral rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. downgraded Canadian Solar from a neutral rating to an underweight rating and set a $15.00 price objective on the stock. in a research report on Tuesday, December 12th. Finally, Cowen reiterated a hold rating and set a $17.00 price objective on shares of Canadian Solar in a research report on Sunday, October 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $18.91.

Canadian Solar (NASDAQ:CSIQ) opened at $14.89 on Thursday. The firm has a market capitalization of $861.09, a P/E ratio of 36.32, a PEG ratio of 0.31 and a beta of 2.71. Canadian Solar has a 1 year low of $10.86 and a 1 year high of $19.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.88.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share for the quarter, meeting the 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 the consensus estimate of $812.37 million. During the same quarter last year, the business posted $0.27 earnings per share. The business’s quarterly revenue was up 38.8% compared to the same quarter last year. sell-side analysts expect that Canadian Solar will post 0.97 EPS for the current year.

A number of institutional investors have recently made changes to their positions in CSIQ. J&P China Capital Management CO. Ltd. purchased a new stake in Canadian Solar in the third quarter valued at $11,792,000. Hussman Strategic Advisors Inc. purchased a new stake in Canadian Solar in the third quarter valued at $2,526,000. Calamos Advisors LLC raised its position in Canadian Solar by 45.2% in the third quarter. Calamos Advisors LLC now owns 408,073 shares of the solar energy provider’s stock valued at $6,872,000 after purchasing an additional 127,073 shares during the period. Engineers Gate Manager LP purchased a new stake in Canadian Solar in the fourth quarter valued at $1,940,000. Finally, Columbus Circle Investors raised its position in Canadian Solar by 292.7% in the third quarter. Columbus Circle Investors now owns 78,380 shares of the solar energy provider’s stock valued at $1,320,000 after purchasing an additional 58,421 shares during the period. Hedge funds and other institutional investors own 41.82% of the company’s stock.

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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.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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