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

Canadian Solar Inc. (NASDAQ:CSIQ) has been assigned an average rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $31.78.

CSIQ has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price objective on shares of Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 19th. Citigroup reduced their price target on shares of Canadian Solar from $26.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Daiwa Capital Markets initiated coverage on shares of Canadian Solar in a research report on Monday, March 11th. They set a “neutral” rating and a $21.00 price target on the stock. The Goldman Sachs Group reduced their price target on shares of Canadian Solar from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Finally, StockNews.com upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Canadian Solar by 3.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,844 shares of the solar energy provider’s stock valued at $390,000 after acquiring an additional 556 shares in the last quarter. USCF Advisers LLC raised its holdings in shares of Canadian Solar by 87.5% in the 4th quarter. USCF Advisers LLC now owns 1,500 shares of the solar energy provider’s stock valued at $39,000 after purchasing an additional 700 shares in the last quarter. Green Alpha Advisors LLC raised its holdings in shares of Canadian Solar by 1.9% in the 1st quarter. Green Alpha Advisors LLC now owns 41,136 shares of the solar energy provider’s stock valued at $813,000 after purchasing an additional 766 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Canadian Solar by 8.0% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 12,481 shares of the solar energy provider’s stock worth $326,000 after buying an additional 928 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Canadian Solar by 71.2% in the 3rd quarter. Assetmark Inc. now owns 2,387 shares of the solar energy provider’s stock worth $59,000 after buying an additional 993 shares during the last quarter. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Up 0.6 %

Canadian Solar stock opened at $14.96 on Thursday. Canadian Solar has a 1-year low of $14.11 and a 1-year high of $45.29. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $965.07 million, a price-to-earnings ratio of 3.86, a P/E/G ratio of 0.23 and a beta of 1.26. The firm has a 50 day simple moving average of $19.06 and a 200 day simple moving average of $21.20.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Thursday, March 14th. The solar energy provider reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.11. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.69 billion. Canadian Solar had a net margin of 3.60% and a return on equity of 8.31%. The firm’s revenue for the quarter was down 13.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 earnings per share. On average, analysts predict that Canadian Solar will post 2.58 earnings per share for the current year.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.