Canadian Solar Inc. (NASDAQ:CSIQ) Receives $27.03 Consensus PT from Brokerages

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been assigned a consensus recommendation of “Hold” from the ten brokerages that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $27.03.

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Canadian Solar from $17.00 to $20.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 16th. Roth Mkm reissued a “buy” rating and issued a $25.00 target price on shares of Canadian Solar in a research note on Wednesday, May 22nd. Glj Research raised their price target on shares of Canadian Solar from $9.10 to $12.28 and gave the stock a “sell” rating in a research note on Tuesday, July 30th. StockNews.com lowered Canadian Solar from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Finally, UBS Group dropped their target price on Canadian Solar from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, June 12th.

Canadian Solar Stock Performance

CSIQ stock traded down $0.37 during trading on Friday, reaching $13.54. 1,189,390 shares of the stock were exchanged, compared to its average volume of 1,538,286. Canadian Solar has a twelve month low of $13.04 and a twelve month high of $34.85. The company has a current ratio of 1.02, a quick ratio of 0.79 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $895.79 million, a P/E ratio of 4.70, a price-to-earnings-growth ratio of 0.30 and a beta of 1.29. The stock has a 50 day simple moving average of $16.17 and a 200-day simple moving average of $18.10.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, May 9th. The solar energy provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.20. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.35 billion. Canadian Solar had a return on equity of 5.61% and a net margin of 2.80%. The company’s quarterly revenue was down 21.1% on a year-over-year basis. During the same quarter last year, the company earned $1.19 EPS. As a group, sell-side analysts anticipate that Canadian Solar will post 2.07 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CSIQ. Vanguard Group Inc. lifted its holdings in Canadian Solar by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,964,359 shares of the solar energy provider’s stock worth $48,343,000 after buying an additional 8,317 shares in the last quarter. DekaBank Deutsche Girozentrale increased 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 valued at $326,000 after buying an additional 928 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Canadian Solar during the fourth quarter worth about $2,540,000. Harel Insurance Investments & Financial Services Ltd. lifted its stake in Canadian Solar by 38.3% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,687 shares of the solar energy provider’s stock valued at $411,000 after buying an additional 4,346 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Canadian Solar by 27.1% in the 4th quarter. Mackenzie Financial Corp now owns 3,952,015 shares of the solar energy provider’s stock worth $103,661,000 after purchasing an additional 843,100 shares during the period. 52.36% of the stock is owned by institutional investors.

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.