Canadian Solar Inc. (NASDAQ:CSIQ)‘s stock had its “buy” rating restated by stock analysts at Axiom Securities in a research report issued to clients and investors on Thursday.
Several other equities research analysts have also recently weighed in on the stock. Cowen and Company set a $13.00 price objective on shares of Canadian Solar and gave the stock a “hold” rating in a research report on Monday, July 10th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $31.00 price objective on shares of Canadian Solar in a research report on Thursday, April 20th. ValuEngine cut shares of Canadian Solar from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut shares of Canadian Solar from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $16.91.
Canadian Solar (CSIQ) opened at 17.20 on Thursday. Canadian Solar has a one year low of $10.25 and a one year high of $18.12. The stock has a 50 day moving average of $16.43 and a 200 day moving average of $13.93. The firm has a market cap of $994.71 million, a price-to-earnings ratio of 34.19 and a beta of 3.09.
Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Tuesday, June 6th. The solar energy provider reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.14. The business had revenue of $677 million for the quarter, compared to the consensus estimate of $580.45 million. Canadian Solar had a net margin of 1.04% and a return on equity of 7.12%. Canadian Solar’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS. Equities research analysts predict that Canadian Solar will post $1.54 EPS for the current fiscal year.
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A number of large investors have recently bought and sold shares of CSIQ. Calamos Advisors LLC bought a new stake in Canadian Solar during the second quarter worth approximately $4,474,000. Delta Lloyd Asset Management N.V. bought a new stake in Canadian Solar during the second quarter worth approximately $3,662,000. Quantitative Investment Management LLC bought a new stake in Canadian Solar during the second quarter worth approximately $2,803,000. SG Americas Securities LLC boosted its stake in Canadian Solar by 194.4% in the first quarter. SG Americas Securities LLC now owns 171,985 shares of the solar energy provider’s stock worth $2,110,000 after buying an additional 113,569 shares during the last quarter. Finally, Cipher Capital LP boosted its stake in Canadian Solar by 214.7% in the second quarter. Cipher Capital LP now owns 97,581 shares of the solar energy provider’s stock worth $1,553,000 after buying an additional 66,571 shares during the last quarter. Institutional investors and hedge funds own 35.42% of the company’s stock.
About Canadian Solar
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
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