Canadian Solar Inc. (NASDAQ:CSIQ) Receives $16.77 Average PT from Brokerages

Canadian Solar Inc. (NASDAQ:CSIQ) has been given an average recommendation of “Hold” by the eleven brokerages that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.77.

Several research analysts have commented on CSIQ shares. Roth Capital lowered Canadian Solar from a “buy” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research report on Friday, April 25th. The Goldman Sachs Group dropped their target price on Canadian Solar from $11.00 to $9.00 and set a “sell” rating on the stock in a report on Wednesday, March 26th. StockNews.com cut Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, January 31st. Finally, Citigroup upgraded shares of Canadian Solar from a “sell” rating to a “neutral” rating and set a $8.00 price objective on the stock in a research note on Thursday, April 17th.

Institutional Investors Weigh In On Canadian Solar

A number of institutional investors have recently modified their holdings of CSIQ. USCF Advisers LLC increased its holdings in shares of Canadian Solar by 66.7% in the 4th quarter. USCF Advisers LLC now owns 2,500 shares of the solar energy provider’s stock valued at $28,000 after acquiring an additional 1,000 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Canadian Solar by 184.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider’s stock worth $57,000 after purchasing an additional 3,347 shares in the last quarter. Sciencast Management LP acquired a new position in Canadian Solar during the 4th quarter valued at about $113,000. Templeton & Phillips Capital Management LLC increased its stake in shares of Canadian Solar by 14.6% during the first quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider’s stock valued at $125,000 after acquiring an additional 1,843 shares during the period. Finally, Miracle Mile Advisors LLC bought a new stake in shares of Canadian Solar in the 4th quarter worth $133,000. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Stock Performance

Shares of NASDAQ:CSIQ opened at $9.81 on Monday. The firm has a market capitalization of $649.02 million, a PE ratio of -81.75, a P/E/G ratio of 0.74 and a beta of 1.35. Canadian Solar has a 12 month low of $6.57 and a 12 month high of $21.05. 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 business has a 50-day moving average of $8.91 and a two-hundred day moving average of $10.76.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) EPS for the quarter, missing the consensus estimate of ($0.21) by ($1.26). Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The business had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business posted ($0.02) EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, research analysts forecast that Canadian Solar will post -0.23 earnings per share for the current 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.