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

Canadian Solar Inc. (NASDAQ:CSIQ) has earned a consensus rating of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $18.58.

Several research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Canadian Solar in a research note on Friday, November 22nd. They issued a “buy” rating and a $14.15 target price for the company. Citigroup downgraded Canadian Solar from a “neutral” rating to a “sell” rating and lowered their target price for the company from $19.00 to $11.00 in a research note on Tuesday, October 22nd. The Goldman Sachs Group downgraded Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price target for the company from $14.00 to $11.00 in a report on Tuesday, December 17th. Mizuho initiated coverage on Canadian Solar in a research report on Friday, December 13th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, StockNews.com downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a research report on Wednesday, December 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CSIQ. Quarry LP acquired a new position in Canadian Solar during the 2nd quarter worth $31,000. Daiwa Securities Group Inc. boosted its stake in 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 valued at $149,000 after purchasing an additional 1,500 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Canadian Solar during the 3rd quarter valued at $219,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Canadian Solar by 43.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock worth $232,000 after buying an additional 4,739 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Canadian Solar by 8.0% in the second 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 period. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Up 1.2 %

Shares of Canadian Solar stock opened at $12.19 on Tuesday. Canadian Solar has a twelve month low of $10.60 and a twelve month high of $25.43. The stock has a market cap of $806.48 million, a price-to-earnings ratio of -101.58, a price-to-earnings-growth ratio of 8.89 and a beta of 1.29. The company has a current ratio of 1.06, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average price of $12.41 and a 200 day moving average price of $13.80.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. The business had revenue of $1.51 billion during 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%. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. Equities research analysts forecast that Canadian Solar will post 0.06 earnings per share for the current fiscal year.

About Canadian Solar

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.