Canadian Solar (NASDAQ:CSIQ) – Equities research analysts at B. Riley raised their Q3 2018 earnings per share estimates for Canadian Solar in a note issued to investors on Thursday, May 17th. B. Riley analyst C. Driscoll now expects that the solar energy provider will post earnings per share of $0.45 for the quarter, up from their previous estimate of $0.26. B. Riley has a “Hold” rating and a $18.00 price target on the stock. B. Riley also issued estimates for Canadian Solar’s Q1 2019 earnings at $0.47 EPS, Q2 2019 earnings at $0.07 EPS and Q3 2019 earnings at $0.62 EPS.
Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase downgraded shares of Canadian Solar from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $17.51 to $17.00 in a research report on Tuesday, March 27th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, May 15th. ValuEngine raised shares of Canadian Solar from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 19th. Finally, Oppenheimer dropped their price objective on shares of Canadian Solar from $32.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 20th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.84.
Canadian Solar opened at $17.24 on Monday, Marketbeat Ratings reports. The company has a market cap of $999.97 million, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 0.48 and a beta of 2.58. Canadian Solar has a 52-week low of $12.24 and a 52-week high of $19.09. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29.
Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Wednesday, May 16th. The solar energy provider reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.34. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Canadian Solar had a net margin of 3.78% and a return on equity of 10.51%. The firm’s quarterly revenue was up 110.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.23) EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in shares of Canadian Solar by 1.0% in the 1st quarter. BlackRock Inc. now owns 2,478,858 shares of the solar energy provider’s stock valued at $40,331,000 after buying an additional 25,550 shares during the last quarter. Park West Asset Management LLC purchased a new position in shares of Canadian Solar in the 1st quarter valued at $31,387,000. Millennium Management LLC grew its position in shares of Canadian Solar by 4,641.5% in the 4th quarter. Millennium Management LLC now owns 1,141,385 shares of the solar energy provider’s stock valued at $19,244,000 after buying an additional 1,117,313 shares during the last quarter. Calamos Advisors LLC grew its position in shares of Canadian Solar by 21.3% in the 4th quarter. Calamos Advisors LLC now owns 495,000 shares of the solar energy provider’s stock valued at $8,346,000 after buying an additional 86,927 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Canadian Solar by 17.1% in the 4th quarter. Deutsche Bank AG now owns 339,155 shares of the solar energy provider’s stock valued at $5,717,000 after buying an additional 49,440 shares during the last quarter. 36.37% of the stock is currently owned by hedge funds and other institutional investors.
Canadian Solar Company Profile
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.
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