Canadian Solar Inc. (NASDAQ:CSIQ) Receives $23.33 Consensus PT from Analysts

by · The Markets Daily

Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) has been assigned a consensus recommendation of “Hold” from the ten research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $23.33.

Several research firms have recently commented on CSIQ. Oppenheimer cut their price objective on Canadian Solar from $43.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, August 23rd. UBS Group decreased their price objective on shares of Canadian Solar from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, June 12th. Roth Mkm dropped their target price on shares of Canadian Solar from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Glj Research raised their target price on shares of Canadian Solar from $9.10 to $12.28 and gave the company a “sell” rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group lowered their price target on Canadian Solar from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, August 26th.

View Our Latest Stock Report on CSIQ

Hedge Funds Weigh In On Canadian Solar

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Advisor Group LLC bought a new stake in Canadian Solar in the 4th quarter valued at $201,000. Capstone Investment Advisors LLC acquired a new stake in shares of Canadian Solar during the fourth quarter worth $359,000. Scotia Capital Inc. boosted its position in shares of Canadian Solar by 3.0% in the fourth quarter. Scotia Capital Inc. now owns 39,400 shares of the solar energy provider’s stock valued at $1,033,000 after acquiring an additional 1,130 shares during the period. Bank of Nova Scotia grew its stake in shares of Canadian Solar by 80.8% in the fourth quarter. Bank of Nova Scotia now owns 38,630 shares of the solar energy provider’s stock valued at $1,015,000 after acquiring an additional 17,260 shares in the last quarter. Finally, KBC Group NV increased its position in Canadian Solar by 24.8% during the fourth quarter. KBC Group NV now owns 181,953 shares of the solar energy provider’s stock worth $4,773,000 after acquiring an additional 36,170 shares during the period. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Stock Performance

Shares of CSIQ opened at $14.90 on Friday. The stock has a market capitalization of $985.78 million, a price-to-earnings ratio of 5.17, a PEG ratio of 4.71 and a beta of 1.29. Canadian Solar has a 12 month low of $11.41 and a 12 month high of $26.85. The firm has a fifty day simple moving average of $14.16 and a 200 day simple moving average of $16.11. The company has a current ratio of 1.04, a quick ratio of 0.82 and a debt-to-equity ratio of 0.53.

Canadian Solar (NASDAQ:CSIQ – Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The solar energy provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. Canadian Solar had a return on equity of 0.99% and a net margin of 0.56%. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the company earned $2.39 EPS. Canadian Solar’s revenue for the quarter was down 30.8% compared to the same quarter last year. Research analysts forecast that Canadian Solar will post 0.12 EPS for the current fiscal year.

Canadian Solar Company Profile

(Get Free Report

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.

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