Canadian Solar Inc. (NASDAQ:CSIQ) Given Consensus Rating of “Hold” by Brokerages

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have earned a consensus rating of “Hold” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $18.31.

Several analysts recently issued reports on CSIQ shares. Jefferies Financial Group began coverage on shares of Canadian Solar in a research note on Friday, November 22nd. They set a “buy” rating and a $14.15 price objective for the company. StockNews.com cut Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, January 31st. The Goldman Sachs Group lowered Canadian Solar from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $14.00 to $11.00 in a research note on Tuesday, December 17th. Mizuho assumed coverage on Canadian Solar in a report on Friday, December 13th. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Wells Fargo & Company reduced their price target on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th.

Canadian Solar Trading Down 0.6 %

Shares of CSIQ stock opened at $11.28 on Wednesday. Canadian Solar has a 1-year low of $9.56 and a 1-year high of $22.48. The company has a market cap of $746.28 million, a price-to-earnings ratio of -94.00, a PEG ratio of 0.74 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. The stock has a 50 day simple moving average of $11.09 and a 200-day simple moving average of $12.60.

Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. On average, equities research analysts expect that Canadian Solar will post -0.23 EPS for the current fiscal year.

Institutional Trading of Canadian Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC purchased a new stake in Canadian Solar in the third quarter valued at $219,000. Summit Place Financial Advisors LLC increased its position in shares of Canadian Solar by 60.0% during the third quarter. Summit Place Financial Advisors LLC now owns 59,223 shares of the solar energy provider’s stock worth $993,000 after purchasing an additional 22,200 shares in the last quarter. KBC Group NV lifted its holdings in shares of Canadian Solar by 36.2% in the 3rd quarter. KBC Group NV now owns 142,402 shares of the solar energy provider’s stock valued at $2,387,000 after purchasing an additional 37,850 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in shares of Canadian Solar in the 3rd quarter valued at about $333,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Canadian Solar by 101.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,461 shares of the solar energy provider’s stock worth $1,902,000 after buying an additional 57,246 shares during the last quarter. Institutional investors and hedge funds own 52.36% of the company’s stock.

About Canadian Solar

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.