UBS initiated coverage on shares of Canadian Solar (NASDAQ:CSIQ) in a report published on Thursday, March 15th, www.benzinga.com reports. The brokerage issued a sell rating and a $15.00 price target on the solar energy provider’s stock.
CSIQ has been the subject of several other reports. Axiom Securities lowered shares of Canadian Solar from a buy rating to a hold rating and set a $17.00 price target for the company. in a research report on Friday, December 15th. JPMorgan Chase lowered shares of Canadian Solar from a neutral rating to an underweight rating and set a $15.00 price objective for the company. in a research report on Tuesday, December 12th. Goldman Sachs initiated coverage on shares of Canadian Solar in a report on Tuesday, January 9th. They issued a neutral rating and a $19.00 price target on the stock. ValuEngine cut shares of Canadian Solar from a strong-buy rating to a buy rating in a research note on Tuesday, March 13th. Finally, BidaskClub cut shares of Canadian Solar from a buy rating to a hold rating in a research note on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $17.92.
CSIQ stock traded down $0.18 during mid-day trading on Thursday, reaching $16.13. 521,303 shares of the stock traded hands, compared to its average volume of 779,803. The company has a quick ratio of 0.91, a current ratio of 0.99 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $946.03, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 0.45 and a beta of 2.67. Canadian Solar has a one year low of $12.07 and a one year high of $19.09.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Monday, March 19th. The solar energy provider reported $1.01 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.01. Canadian Solar had a net margin of 2.94% and a return on equity of 6.11%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The business’s revenue for the quarter was up 65.9% on a year-over-year basis. equities research analysts expect that Canadian Solar will post 1.4 EPS for the current year.
Several large investors have recently modified their holdings of CSIQ. We Are One Seven LLC acquired a new position in Canadian Solar in the 4th quarter valued at about $142,000. Oppenheimer & Co. Inc. acquired a new position in Canadian Solar in the 4th quarter valued at about $223,000. HBK Investments L P acquired a new position in Canadian Solar in the 4th quarter valued at about $282,000. State Street Corp grew its position in Canadian Solar by 6.0% in the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after acquiring an additional 1,227 shares in the last quarter. Finally, Quinn Opportunity Partners LLC acquired a new position in Canadian Solar in the 4th quarter valued at about $354,000. 39.15% of the stock is owned by hedge funds and other institutional investors.
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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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