Shares of Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) have earned an average recommendation of “Reduce” from the thirteen research firms that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $18.6640.
A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on Canadian Solar from $23.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Roth Mkm dropped their price target on Canadian Solar from $30.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, March 23rd. Freedom Capital downgraded Canadian Solar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Oppenheimer dropped their price target on Canadian Solar from $38.00 to $19.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Finally, Wall Street Zen raised Canadian Solar from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd.
Check Out Our Latest Research Report on CSIQ
Insider Transactions at Canadian Solar
Institutional Investors Weigh In On Canadian Solar
A number of institutional investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. bought a new stake in Canadian Solar during the first quarter valued at about $44,000. Bank of America Corp DE boosted its position in Canadian Solar by 292.7% during the first quarter. Bank of America Corp DE now owns 1,071,486 shares of the solar energy provider’s stock valued at $14,840,000 after purchasing an additional 798,610 shares in the last quarter. Entropy Technologies LP bought a new stake in Canadian Solar during the first quarter valued at about $210,000. Renaissance Technologies LLC bought a new stake in Canadian Solar during the first quarter valued at about $6,921,000. Finally, Caxton Associates LLP boosted its position in Canadian Solar by 33.4% during the first quarter. Caxton Associates LLP now owns 73,654 shares of the solar energy provider’s stock valued at $1,020,000 after purchasing an additional 18,442 shares in the last quarter. Institutional investors own 52.36% of the company’s stock.
Canadian Solar Price Performance
CSIQ opened at $16.88 on Tuesday. Canadian Solar has a 12-month low of $9.41 and a 12-month high of $34.59. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 0.99. The business’s fifty day simple moving average is $16.21 and its 200-day simple moving average is $19.03. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -6.70 and a beta of 1.49.
Canadian Solar (NASDAQ:CSIQ – Get Free Report) last posted its quarterly earnings results on Friday, May 15th. The solar energy provider reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.35. Canadian Solar had a negative return on equity of 4.20% and a negative net margin of 1.87%.The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $950.43 million. During the same quarter in the prior year, the company earned ($1.07) EPS. The business’s revenue was down 9.9% compared to the same quarter last year. On average, equities research analysts anticipate that Canadian Solar will post -1.16 earnings per share for the current fiscal year.
Canadian Solar Company Profile
Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.
In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.
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