Canadian Solar Inc. (NASDAQ:CSIQ) Receives Consensus Rating of “Hold” from Analysts

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been assigned a consensus rating of “Hold” from the ten research firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $17.84.

Several research firms recently weighed in on CSIQ. The Goldman Sachs Group dropped their price target on Canadian Solar from $11.00 to $9.00 and set a “sell” rating on the stock in a research report on Wednesday, March 26th. Citigroup cut their target price on Canadian Solar from $12.00 to $11.00 and set a “sell” rating on the stock in a research note on Wednesday, March 26th. Mizuho assumed coverage on shares of Canadian Solar in a report on Friday, December 13th. They set an “outperform” rating and a $20.00 price objective for the company. StockNews.com cut Canadian Solar from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company reduced their price objective on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th.

Canadian Solar Stock Up 21.0 %

Shares of CSIQ opened at $8.18 on Thursday. 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 $9.74 and a two-hundred day simple moving average of $11.63. The firm has a market cap of $541.18 million, a P/E ratio of -68.17, a P/E/G ratio of 0.74 and a beta of 1.33. Canadian Solar has a 1 year low of $6.57 and a 1 year high of $21.05.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($1.26). Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the company earned ($0.02) EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts forecast that Canadian Solar will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Canadian Solar

Several hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in Canadian Solar by 59.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 180,792 shares of the solar energy provider’s stock valued at $2,010,000 after purchasing an additional 67,331 shares during the last quarter. Shah Capital Management boosted its position in Canadian Solar by 825.6% in the 4th quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider’s stock valued at $19,410,000 after buying an additional 1,556,964 shares during the period. Barclays PLC grew its position in shares of Canadian Solar by 494.4% during the 3rd quarter. Barclays PLC now owns 115,328 shares of the solar energy provider’s stock worth $1,932,000 after buying an additional 95,924 shares in the last quarter. Waterfront Wealth Inc. increased its holdings in Canadian Solar by 16.9% during the fourth quarter. Waterfront Wealth Inc. now owns 185,175 shares of the solar energy provider’s stock valued at $2,059,000 after buying an additional 26,778 shares during the period. Finally, Greenwoods Asset Management Hong Kong Ltd. purchased a new position in shares of Canadian Solar in the 4th quarter valued at $7,738,000. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Canadian Solar Company Profile

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.