Shares of Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) have been assigned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $16.42.
CSIQ has been the subject of several research reports. UBS Group decreased their target price on Canadian Solar from $25.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday. Roth Capital set a $15.00 price target on Canadian Solar in a research report on Friday, August 28th. Mizuho reduced their price target on Canadian Solar from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, August 28th. Wall Street Zen downgraded Canadian Solar from a “sell” rating to a “strong sell” rating in a report on Saturday, August 29th. Finally, Citigroup lowered their price target on shares of Canadian Solar from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 27th.
Check Out Our Latest Stock Analysis on Canadian Solar
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC bought a new position in Canadian Solar in the second quarter worth approximately $96,000. Jones Financial Companies Lllp bought a new stake in shares of Canadian Solar during the 2nd quarter valued at $100,000. Danske Bank A S bought a new stake in shares of Canadian Solar during the 2nd quarter valued at $100,000. EFG International AG bought a new stake in shares of Canadian Solar during the 2nd quarter valued at $161,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of Canadian Solar in the 2nd quarter worth $186,000. Institutional investors own 52.36% of the company’s stock.
Canadian Solar Trading Down 7.2%
Shares of CSIQ opened at $9.81 on Monday. The firm’s 50-day moving average price is $12.70 and its 200-day moving average price is $14.61. The firm has a market capitalization of $666.10 million, a price-to-earnings ratio of -2.55 and a beta of 1.53. The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.95. Canadian Solar has a 1-year low of $9.76 and a 1-year high of $34.59.
Canadian Solar (NASDAQ:CSIQ – Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The solar energy provider reported ($1.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($1.22). Canadian Solar had a negative net margin of 3.73% and a negative return on equity of 5.57%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm earned ($0.53) EPS. Canadian Solar’s quarterly revenue was down 28.7% compared to the same quarter last year. Sell-side analysts anticipate that Canadian Solar will post -2.93 EPS for the current year.
Canadian Solar Company Profile
Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable-energy company that designs, manufactures and sells solar photovoltaic modules and system solutions. Its product portfolio includes solar modules, inverters, battery-storage systems and other equipment used in residential, commercial, industrial and utility-scale renewable-energy installations.
The company also develops, builds and operates solar-power and energy-storage projects through its Recurrent Energy business. These activities include project development, engineering, procurement and construction, as well as the ownership and sale of electricity-generating assets.
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