Goldman Sachs Group assumed coverage on shares of Canadian Solar (NASDAQ:CSIQ) in a research note issued to investors on Tuesday morning, MarketBeat reports. The brokerage issued a neutral rating and a $19.00 price objective on the solar energy provider’s stock.
CSIQ has been the subject of a number of other research reports. Zacks Investment Research raised Canadian Solar from a hold rating to a buy rating and set a $20.00 target price for the company in a report on Monday, November 13th. B. Riley set a $15.00 target price on Canadian Solar and gave the stock a hold rating in a report on Monday, December 11th. Cowen reissued a hold rating and issued a $17.00 target price on shares of Canadian Solar in a report on Sunday, October 22nd. Roth Capital raised Canadian Solar from a neutral rating to a buy rating and set a $24.00 target price for the company in a report on Friday, November 10th. Finally, JPMorgan Chase & Co. lowered Canadian Solar from a neutral rating to an underweight rating and set a $15.00 target price for the company. in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $18.82.
Shares of Canadian Solar (NASDAQ CSIQ) opened at $16.55 on Tuesday. The company has a market capitalization of $957.09, a price-to-earnings ratio of 40.37, a price-to-earnings-growth ratio of 0.36 and a beta of 3.10. Canadian Solar has a fifty-two week low of $10.86 and a fifty-two week high of $19.09. The company has a quick ratio of 0.88, a current ratio of 0.95 and a debt-to-equity ratio of 0.45.
Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, November 9th. The solar energy provider reported $0.22 EPS for the quarter, hitting 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 quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. sell-side analysts expect that Canadian Solar will post 0.97 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Quentec Asset Management LLC boosted its stake in shares of Canadian Solar by 1.9% in the 3rd quarter. Quentec Asset Management LLC now owns 2,755,665 shares of the solar energy provider’s stock worth $46,405,000 after buying an additional 52,412 shares during the last quarter. J&P China Capital Management CO. Ltd. purchased a new position in shares of Canadian Solar in the 3rd quarter worth $11,792,000. Calamos Advisors LLC boosted its stake in shares of Canadian Solar by 45.2% in the 3rd quarter. Calamos Advisors LLC now owns 408,073 shares of the solar energy provider’s stock worth $6,872,000 after buying an additional 127,073 shares during the last quarter. Quantitative Investment Management LLC purchased a new position in shares of Canadian Solar in the 2nd quarter worth $2,803,000. Finally, California Public Employees Retirement System boosted its stake in shares of Canadian Solar by 9.0% in the 2nd quarter. California Public Employees Retirement System now owns 156,500 shares of the solar energy provider’s stock worth $2,491,000 after buying an additional 12,900 shares during the last quarter. Hedge funds and other institutional investors own 42.08% 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.
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