Canadian Solar Inc. (NASDAQ:CSIQ) Given Consensus Rating of “Hold” by Brokerages

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have earned an average rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $31.78.

A number of equities research analysts recently commented on the company. Daiwa Capital Markets started coverage on Canadian Solar in a research report on Monday, March 11th. They issued a “neutral” rating and a $21.00 target price on the stock. The Goldman Sachs Group lowered their target price on Canadian Solar from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Citigroup reduced their price target on shares of Canadian Solar from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Wells Fargo & Company lowered their price objective on shares of Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 19th. Finally, StockNews.com raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th.

Canadian Solar Stock Up 0.9 %

Shares of CSIQ opened at $16.35 on Thursday. The business’s 50 day moving average is $18.45 and its 200 day moving average is $20.98. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. Canadian Solar has a 12-month low of $14.11 and a 12-month high of $45.29. The company has a market capitalization of $1.08 billion, a PE ratio of 4.21, a price-to-earnings-growth ratio of 0.26 and a beta of 1.26.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, March 14th. The solar energy provider reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.11. Canadian Solar had a net margin of 3.60% and a return on equity of 8.31%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter last year, the business posted $1.11 earnings per share. The company’s revenue for the quarter was down 13.7% compared to the same quarter last year. Research analysts expect that Canadian Solar will post 2.58 earnings per share for the current fiscal year.

Institutional Trading of Canadian Solar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSIQ. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Canadian Solar by 137.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,761,422 shares of the solar energy provider’s stock valued at $92,569,000 after buying an additional 2,180,240 shares during the last quarter. Mackenzie Financial Corp increased its stake in Canadian Solar by 27.1% in the fourth quarter. Mackenzie Financial Corp now owns 3,952,015 shares of the solar energy provider’s stock worth $103,661,000 after purchasing an additional 843,100 shares during the period. Schroder Investment Management Group lifted its position in shares of Canadian Solar by 15.7% during the fourth quarter. Schroder Investment Management Group now owns 1,575,683 shares of the solar energy provider’s stock worth $41,330,000 after purchasing an additional 213,959 shares during the last quarter. Creative Planning boosted its stake in shares of Canadian Solar by 103.3% during the third quarter. Creative Planning now owns 404,759 shares of the solar energy provider’s stock valued at $9,961,000 after purchasing an additional 205,671 shares during the period. Finally, Hussman Strategic Advisors Inc. grew its holdings in shares of Canadian Solar by 67.7% in the third quarter. Hussman Strategic Advisors Inc. now owns 262,500 shares of the solar energy provider’s stock worth $6,460,000 after purchasing an additional 106,000 shares during the last quarter. 52.36% of the stock is owned by hedge funds and other institutional investors.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.