Canadian Solar Inc. (NASDAQ:CSIQ) Receives Average Recommendation of “Hold” from Brokerages

Canadian Solar Inc. (NASDAQ:CSIQGet Rating) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $38.00.

A number of brokerages have issued reports on CSIQ. JPMorgan Chase & Co. lowered their price objective on Canadian Solar from $41.00 to $39.00 in a research note on Friday, March 18th. StockNews.com began coverage on Canadian Solar in a research note on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research upgraded Canadian Solar from a “sell” rating to a “hold” rating and set a $35.00 price target for the company in a research note on Wednesday, March 2nd. Finally, Citigroup boosted their price target on Canadian Solar from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, March 28th.

Institutional investors and hedge funds have recently modified their holdings of the stock. FinTrust Capital Advisors LLC bought a new stake in shares of Canadian Solar in the first quarter worth $40,000. Great West Life Assurance Co. Can grew its holdings in shares of Canadian Solar by 115.7% in the first quarter. Great West Life Assurance Co. Can now owns 1,098 shares of the solar energy provider’s stock worth $41,000 after acquiring an additional 589 shares during the period. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Canadian Solar in the fourth quarter worth $72,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Canadian Solar by 26.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,421 shares of the solar energy provider’s stock worth $120,000 after acquiring an additional 719 shares during the period. Finally, Fulcrum Asset Management LLP bought a new stake in shares of Canadian Solar in the fourth quarter worth $132,000. 46.97% of the stock is owned by institutional investors.

Shares of NASDAQ:CSIQ opened at $35.09 on Wednesday. The stock has a fifty day simple moving average of $30.75 and a two-hundred day simple moving average of $31.06. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 28.53 and a beta of 1.46. Canadian Solar has a 12-month low of $22.15 and a 12-month high of $48.35. The company has a current ratio of 1.20, a quick ratio of 0.85 and a debt-to-equity ratio of 0.46.

Canadian Solar (NASDAQ:CSIQGet Rating) last announced its quarterly earnings data on Tuesday, May 24th. The solar energy provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.31. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Canadian Solar had a return on equity of 2.86% and a net margin of 1.50%. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. As a group, equities research analysts predict that Canadian Solar will post 3.06 EPS for the current year.

About Canadian Solar (Get Rating)

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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