Canadian Solar Inc. (CSIQ) Receives $17.67 Consensus PT from Analysts

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been given a consensus rating of “Hold” by the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.67.

CSIQ has been the topic of a number of research analyst reports. ValuEngine lowered Canadian Solar from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 13th. B. Riley set a $18.00 price target on Canadian Solar and gave the stock a “neutral” rating in a research note on Thursday, March 15th. UBS Group initiated coverage on Canadian Solar in a research note on Thursday, March 15th. They issued a “sell” rating and a $15.00 price target on the stock. Oppenheimer lowered their price target on Canadian Solar from $32.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 20th. Finally, JPMorgan Chase & Co. lowered Canadian Solar from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $17.51 to $17.00 in a research note on Tuesday, March 27th. They noted that the move was a valuation call.

Shares of NASDAQ:CSIQ opened at $12.29 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $688.50 million, a PE ratio of 11.82, a PEG ratio of 0.23 and a beta of 2.46. Canadian Solar has a 1 year low of $11.37 and a 1 year high of $19.09.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly 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 firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Canadian Solar had a return on equity of 10.51% and a net margin of 3.78%. The business’s revenue was up 110.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.23) earnings per share. research analysts anticipate that Canadian Solar will post 1.97 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSIQ. Schwab Charles Investment Management Inc. boosted its stake in Canadian Solar by 9.2% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 64,707 shares of the solar energy provider’s stock worth $1,091,000 after buying an additional 5,452 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in Canadian Solar during the fourth quarter worth $223,000. First Trust Advisors LP boosted its stake in Canadian Solar by 9.5% during the fourth quarter. First Trust Advisors LP now owns 63,480 shares of the solar energy provider’s stock worth $1,070,000 after buying an additional 5,514 shares during the last quarter. Global X Management Co. LLC boosted its stake in Canadian Solar by 30.1% during the fourth quarter. Global X Management Co. LLC now owns 53,382 shares of the solar energy provider’s stock worth $900,000 after buying an additional 12,351 shares during the last quarter. Finally, Calamos Advisors LLC boosted its stake in Canadian Solar by 21.3% during the fourth quarter. Calamos Advisors LLC now owns 495,000 shares of the solar energy provider’s stock worth $8,346,000 after buying an additional 86,927 shares during the last quarter. 39.07% of the stock is currently owned by institutional investors.

About Canadian Solar

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 System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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