Canadian Solar Inc. (NASDAQ:CSIQ) Receives $14.74 Average Price Target from Analysts

Canadian Solar Inc. (NASDAQ:CSIQ) has been assigned a consensus rating of “Hold” from the ten analysts that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $14.74.

A number of brokerages have recently issued reports on CSIQ. Wells Fargo & Company increased their price objective on shares of Canadian Solar from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Friday, May 16th. Mizuho decreased their target price on shares of Canadian Solar from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Monday, June 2nd. Citigroup raised shares of Canadian Solar from a “sell” rating to a “neutral” rating and set a $8.00 price target for the company in a research report on Thursday, April 17th. The Goldman Sachs Group raised their price target on shares of Canadian Solar from $8.00 to $9.00 and gave the stock a “sell” rating in a research note on Friday, May 16th. Finally, Wall Street Zen raised Canadian Solar from a “sell” rating to a “hold” rating in a report on Friday, May 16th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CSIQ. Caitong International Asset Management Co. Ltd bought a new stake in Canadian Solar during the 1st quarter worth approximately $39,000. Wells Fargo & Company MN boosted its stake in Canadian Solar by 184.0% in the fourth quarter. Wells Fargo & Company MN now owns 5,166 shares of the solar energy provider’s stock worth $57,000 after purchasing an additional 3,347 shares in the last quarter. Summit Securities Group LLC grew its holdings in shares of Canadian Solar by 598.5% during the first quarter. Summit Securities Group LLC now owns 7,020 shares of the solar energy provider’s stock worth $61,000 after purchasing an additional 6,015 shares during the last quarter. Sciencast Management LP acquired a new stake in shares of Canadian Solar in the fourth quarter valued at $113,000. Finally, Templeton & Phillips Capital Management LLC increased its stake in shares of Canadian Solar by 14.6% in the first quarter. Templeton & Phillips Capital Management LLC now owns 14,481 shares of the solar energy provider’s stock valued at $125,000 after buying an additional 1,843 shares in the last quarter. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Price Performance

NASDAQ:CSIQ opened at $11.14 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.07 and a quick ratio of 0.80. Canadian Solar has a one year low of $6.57 and a one year high of $19.55. The company has a fifty day moving average price of $10.09 and a 200 day moving average price of $10.24. The stock has a market cap of $746.05 million, a P/E ratio of -22.28 and a beta of 1.38.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Thursday, May 15th. The solar energy provider reported ($1.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.50) by $0.43. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.11 billion. Canadian Solar had a negative return on equity of 4.34% and a negative net margin of 0.18%. The company’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. Analysts anticipate that Canadian Solar will post -0.23 earnings per share for the current year.

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.