Shares of Canadian Solar Inc. (NASDAQ:CSIQ) fell 10.3% on Tuesday . The stock traded as low as $16.04 and last traded at $16.12. 3,081,000 shares traded hands during mid-day trading, an increase of 146% from the average session volume of 1,251,511 shares. The stock had previously closed at $17.97.
Several research firms have weighed in on CSIQ. Cowen reissued a “market perform” rating and issued a $17.00 target price (up previously from $16.00) on shares of Canadian Solar in a report on Tuesday, August 15th. B. Riley reissued a “neutral” rating on shares of Canadian Solar in a report on Wednesday, November 1st. Axiom Securities set a $26.00 target price on Canadian Solar and gave the company a “buy” rating in a report on Wednesday, November 15th. FBR & Co reissued a “neutral” rating and issued a $15.00 target price (up previously from $13.00) on shares of Canadian Solar in a report on Tuesday, August 15th. Finally, Barclays lowered Canadian Solar from an “equal weight” rating to an “underweight” rating and upped their target price for the company from $12.00 to $14.00 in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $20.01.
The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.88 and a current ratio of 0.95. The firm has a market capitalization of $957.05, a P/E ratio of 78.57, a P/E/G ratio of 0.65 and a beta of 3.08.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings data on Thursday, November 9th. The solar energy provider reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $912.20 million for the quarter, compared to analyst estimates of $812.37 million. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The business’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 earnings per share. equities research analysts expect that Canadian Solar Inc. will post 0.97 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of CSIQ. State Street Corp boosted its stake in Canadian Solar by 6.0% in the 2nd quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after buying an additional 1,227 shares during the last quarter. Van ECK Associates Corp boosted its stake in Canadian Solar by 2.7% in the 2nd quarter. Van ECK Associates Corp now owns 84,436 shares of the solar energy provider’s stock worth $1,344,000 after buying an additional 2,217 shares during the last quarter. Northern Trust Corp boosted its stake in Canadian Solar by 11.7% in the 2nd quarter. Northern Trust Corp now owns 30,588 shares of the solar energy provider’s stock worth $487,000 after buying an additional 3,198 shares during the last quarter. Global X MANAGEMENT CO LLC boosted its stake in Canadian Solar by 9.5% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 41,031 shares of the solar energy provider’s stock worth $691,000 after buying an additional 3,550 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Canadian Solar by 111.1% in the 2nd quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock worth $124,000 after buying an additional 4,100 shares during the last quarter. 42.52% of the stock is currently owned by institutional investors and hedge funds.
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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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