Canadian Solar (NASDAQ:CSIQ) has been given a $26.00 price objective by equities researchers at Axiom Securities in a research report issued to clients and investors on Wednesday, November 15th. The firm presently has a “buy” rating on the solar energy provider’s stock. Axiom Securities’ price target would suggest a potential upside of 61.29% from the stock’s previous close.
Several other equities analysts have also weighed in on the company. 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 note on Friday, November 10th. Zacks Investment Research cut Canadian Solar from a “strong-buy” rating to a “hold” rating in a report on Monday, August 28th. Cowen reiterated a “hold” rating and issued a $17.00 price objective on shares of Canadian Solar in a report on Sunday, October 22nd. Barclays cut Canadian Solar from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $12.00 to $14.00 in a report on Monday, August 21st. Finally, BidaskClub cut Canadian Solar from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Canadian Solar has a consensus rating of “Hold” and a consensus price target of $20.01.
Shares of Canadian Solar (CSIQ) traded down $1.85 on Wednesday, reaching $16.12. The company’s stock had a trading volume of 3,081,012 shares, compared to its average volume of 1,251,510. The firm has a market cap of $932.22, a PE ratio of 85.57, a P/E/G ratio of 0.71 and a beta of 3.08. Canadian Solar has a 12 month low of $10.86 and a 12 month high of $19.09. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45.
Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.22. The business had revenue of $912.20 million during the quarter, compared to analyst estimates of $812.37 million. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The company’s revenue was up 38.8% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. equities research analysts predict that Canadian Solar will post 0.97 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacad Investment Ltd. purchased a new stake in Canadian Solar in the second quarter valued at approximately $115,000. Legal & General Group Plc raised its position in Canadian Solar by 111.1% in the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after purchasing an additional 4,100 shares during the period. Columbus Circle Investors purchased a new stake in shares of Canadian Solar during the second quarter worth $318,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Canadian Solar during the second quarter worth $323,000. Finally, State Street Corp increased its position in shares of Canadian Solar by 6.0% during the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after acquiring an additional 1,227 shares during the period. 42.52% of the stock is currently owned by institutional investors.
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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.
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