Canadian Solar Inc. (NASDAQ:CSIQ) Receives $18.31 Average Target Price from Analysts

Canadian Solar Inc. (NASDAQ:CSIQGet Free Report) has been assigned an average rating of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $18.31.

CSIQ has been the subject of several analyst reports. Mizuho started coverage on Canadian Solar in a research note on Friday, December 13th. They set an “outperform” rating and a $20.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Canadian Solar in a report on Friday, November 22nd. They issued a “buy” rating and a $14.15 price target on the stock. StockNews.com downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Friday, January 17th. The Goldman Sachs Group lowered shares of Canadian Solar from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $14.00 to $11.00 in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company dropped their price target on shares of Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th.

Get Our Latest Analysis on CSIQ

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. USCF Advisers LLC increased its stake in shares of Canadian Solar by 66.7% in the fourth quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock valued at $28,000 after buying an additional 1,000 shares in the last quarter. American Century Companies Inc. raised its position in Canadian Solar by 8.0% in the 2nd quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider’s stock valued at $276,000 after buying an additional 1,383 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Canadian Solar by 20.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock worth $149,000 after purchasing an additional 1,500 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Canadian Solar by 1.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 110,188 shares of the solar energy provider’s stock worth $1,847,000 after purchasing an additional 1,522 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Canadian Solar during the 2nd quarter worth approximately $31,000. 52.36% of the stock is currently owned by institutional investors and hedge funds.

Canadian Solar Trading Down 2.4 %

CSIQ opened at $10.70 on Friday. The company’s 50 day simple moving average is $11.82 and its two-hundred day simple moving average is $13.34. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. The firm has a market capitalization of $707.91 million, a price-to-earnings ratio of -89.17, a price-to-earnings-growth ratio of 0.68 and a beta of 1.27. Canadian Solar has a 1-year low of $10.22 and a 1-year high of $24.32.

Canadian Solar (NASDAQ:CSIQGet Free Report) last posted its earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.13. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.71 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. Canadian Solar’s revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. Analysts expect that Canadian Solar will post -0.23 EPS for the current fiscal year.

About Canadian Solar

(Get Free Report

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

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Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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