Canadian Solar Inc. (NASDAQ:CSIQ) has been assigned an average recommendation of “Buy” from the nine analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $41.14.
A number of research firms have weighed in on CSIQ. ValuEngine upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Thursday, October 1st. The Goldman Sachs Group upped their price objective on shares of Canadian Solar from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, November 9th. JPMorgan Chase & Co. boosted their target price on shares of Canadian Solar from $35.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, December 9th. CICC Research upgraded shares of Canadian Solar from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a report on Wednesday, November 25th. Finally, Oppenheimer upped their price objective on shares of Canadian Solar from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, November 20th.
CSIQ opened at $51.24 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.04 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.65 and a beta of 1.45. The company’s 50 day moving average is $43.00 and its 200 day moving average is $32.55. Canadian Solar has a 12-month low of $12.00 and a 12-month high of $56.42.
Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Wednesday, November 18th. The solar energy provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.20. Canadian Solar had a net margin of 6.19% and a return on equity of 10.28%. The business had revenue of $914.36 million for the quarter, compared to the consensus estimate of $860.54 million. During the same quarter in the previous year, the firm earned $0.96 earnings per share. As a group, analysts predict that Canadian Solar will post 0.96 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in CSIQ. Macroview Investment Management LLC acquired a new position in Canadian Solar during the third quarter worth approximately $56,000. Daiwa Securities Group Inc. boosted its position in Canadian Solar by 28.6% during the third quarter. Daiwa Securities Group Inc. now owns 3,600 shares of the solar energy provider’s stock worth $126,000 after purchasing an additional 800 shares in the last quarter. State of Tennessee Treasury Department purchased a new stake in shares of Canadian Solar in the second quarter valued at $132,000. Cipher Capital LP purchased a new stake in shares of Canadian Solar in the second quarter valued at $209,000. Finally, Advisor Group Holdings Inc. lifted its position in shares of Canadian Solar by 107.6% in the second quarter. Advisor Group Holdings Inc. now owns 10,993 shares of the solar energy provider’s stock valued at $212,000 after acquiring an additional 5,698 shares in the last quarter. Institutional investors and hedge funds own 40.17% of the company’s stock.
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. The company operates through two segments, Module and System Solutions (MSS), and Energy. The MSS segment engages in the design, development, manufacture, and sale of a range of solar power products, including standard solar modules, specialty solar products, and solar system kits that are a ready-to-install packages comprising inverters, racking systems, and other accessories.
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