Canadian Solar Inc. (NASDAQ:CSIQ) Receives $19.94 Average Target Price from Brokerages

Canadian Solar Inc. (NASDAQ:CSIQ) has received a consensus rating of “Hold” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $18.94.

CSIQ has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price target on shares of Canadian Solar from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday. The Goldman Sachs Group cut their price target on shares of Canadian Solar from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, August 26th. Oppenheimer decreased their price target on shares of Canadian Solar from $43.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 23rd. Roth Mkm cut their price objective on Canadian Solar from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Finally, Citigroup lowered Canadian Solar from a “neutral” rating to a “sell” rating and reduced their price target for the company from $19.00 to $11.00 in a research report on Tuesday, October 22nd.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CSIQ. American Century Companies Inc. grew its holdings in 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 purchasing an additional 1,383 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings 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 acquiring an additional 1,500 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Canadian Solar by 1.4% during the third 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 acquiring an additional 1,522 shares during the last quarter. Quarry LP purchased a new stake in shares of Canadian Solar in the second quarter valued at about $31,000. Finally, Green Alpha Advisors LLC grew its position in shares of Canadian Solar by 8.8% in the third quarter. Green Alpha Advisors LLC now owns 40,390 shares of the solar energy provider’s stock valued at $677,000 after purchasing an additional 3,282 shares during the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Up 4.8 %

Shares of NASDAQ:CSIQ opened at $12.01 on Friday. Canadian Solar has a 52-week low of $10.91 and a 52-week high of $26.85. The company has a quick ratio of 0.82, a current ratio of 1.04 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $13.32 and a two-hundred day moving average of $14.68. The stock has a market cap of $794.58 million, a P/E ratio of -100.08, a PEG ratio of 1.18 and a beta of 1.29.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. Canadian Solar had a net margin of 0.56% and a return on equity of 0.99%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned $0.32 EPS. The business’s revenue was down 18.4% compared to the same quarter last year. On average, research analysts expect that Canadian Solar will post 0.41 earnings per share for the current year.

Canadian Solar Company Profile

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.