A number of other analysts have also recently weighed in on CSIQ. ValuEngine cut Canadian Solar from a sell rating to a strong sell rating in a research report on Thursday, April 9th. Cfra upgraded Canadian Solar from a hold rating to a buy rating and upped their price target for the company from $20.00 to $22.00 in a research report on Friday, May 29th. Finally, Oppenheimer reiterated a buy rating and issued a $25.00 price target on shares of Canadian Solar in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $26.60.
Shares of NASDAQ:CSIQ opened at $19.03 on Friday. The business’s fifty day moving average price is $18.31 and its two-hundred day moving average price is $19.28. Canadian Solar has a fifty-two week low of $12.00 and a fifty-two week high of $25.35. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 3.84, a price-to-earnings-growth ratio of 0.26 and a beta of 1.60. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.17 and a quick ratio of 0.95.
Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Thursday, May 28th. The solar energy provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.98. Canadian Solar had a return on equity of 16.69% and a net margin of 8.45%. The firm had revenue of $825.60 million for the quarter, compared to analysts’ expectations of $792.65 million. During the same period in the prior year, the business posted ($0.29) earnings per share. The business’s revenue was up 70.3% compared to the same quarter last year. Research analysts expect that Canadian Solar will post 2.25 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of CSIQ. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Canadian Solar by 18.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,836 shares of the solar energy provider’s stock worth $77,000 after purchasing an additional 736 shares in the last quarter. Advisor Group Holdings Inc. acquired a new position in Canadian Solar in the first quarter worth $85,000. Belpointe Asset Management LLC acquired a new position in Canadian Solar in the fourth quarter worth $140,000. Tower Research Capital LLC TRC boosted its stake in Canadian Solar by 46.5% in the first quarter. Tower Research Capital LLC TRC now owns 10,000 shares of the solar energy provider’s stock worth $159,000 after purchasing an additional 3,172 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in Canadian Solar in the first quarter worth $198,000. 40.47% of the stock is currently owned by institutional investors.
About Canadian Solar
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.
Further Reading: What is the accumulation/distribution indicator?
Receive News & Ratings for Canadian Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar and related companies with MarketBeat.com's FREE daily email newsletter.