Goldman Sachs Group began coverage on shares of Canadian Solar (NASDAQ:CSIQ) in a research note issued to investors on Tuesday, MarketBeat reports. The firm issued a neutral rating and a $19.00 price target on the solar energy provider’s stock.
Other equities analysts also recently issued reports about the company. B. Riley reiterated a neutral rating on shares of Canadian Solar in a research 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 research report on Wednesday, November 15th. Zacks Investment Research upgraded Canadian Solar from a hold rating to a buy rating and set a $20.00 target price on the stock in a research report on Monday, November 13th. Roth Capital upgraded Canadian Solar from a neutral rating to a buy rating and set a $24.00 target price on the stock in a research report on Friday, November 10th. Finally, Cowen set a $18.00 target price on Canadian Solar and gave the company a hold rating in a research report on Monday, December 11th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Canadian Solar currently has an average rating of Hold and an average target price of $18.82.
Canadian Solar (NASDAQ CSIQ) opened at $16.55 on Tuesday. The firm has a market capitalization of $957.09, a price-to-earnings ratio of 40.37, a P/E/G ratio of 0.36 and a beta of 3.10. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. Canadian Solar has a 52-week low of $10.86 and a 52-week high of $19.09.
Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. The company had revenue of $912.20 million for the quarter, compared to the consensus estimate of $812.37 million. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. Canadian Solar’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 earnings per share. equities analysts anticipate that Canadian Solar will post 0.97 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in CSIQ. Pacad Investment Ltd. purchased a new position in shares of Canadian Solar in the second quarter valued at about $115,000. Legal & General Group Plc lifted its position in shares of Canadian Solar by 111.1% in the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after acquiring an additional 4,100 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Canadian Solar in the second quarter valued at about $323,000. State Street Corp lifted its position in shares of Canadian Solar by 6.0% in the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after acquiring an additional 1,227 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Canadian Solar in the second quarter valued at about $370,000. Institutional investors and hedge funds own 42.08% 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.
Receive News & Ratings for Canadian Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Solar and related companies with MarketBeat.com's FREE daily email newsletter.