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

Canadian Solar Inc. (NASDAQ:CSIQ) has earned a consensus rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $14.16.

Several research analysts recently issued reports on CSIQ shares. Citigroup raised shares of Canadian Solar from a “sell” rating to a “neutral” rating and set a $8.00 target price for the company in a report on Thursday, April 17th. The Goldman Sachs Group raised their target price on shares of Canadian Solar from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Friday, May 16th. Wall Street Zen raised shares of Canadian Solar from a “sell” rating to a “hold” rating in a report on Friday, May 16th. Mizuho reduced their target price on shares of Canadian Solar from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, June 2nd. Finally, Roth Capital set a $11.00 target price on shares of Canadian Solar and gave the stock a “neutral” rating in a report on Friday, May 16th.

Canadian Solar Trading Down 1.0%

Shares of Canadian Solar stock opened at $12.25 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a fifty day moving average price of $11.22 and a 200 day moving average price of $10.33. Canadian Solar has a 1 year low of $6.57 and a 1 year high of $19.55. The stock has a market cap of $820.38 million, a PE ratio of -24.50 and a beta of 1.38.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Templeton & Phillips Capital Management LLC increased its holdings in 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. Northwestern Mutual Wealth Management Co. increased its holdings in Canadian Solar by 11.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 21,874 shares of the solar energy provider’s stock valued at $189,000 after buying an additional 2,217 shares in the last quarter. Robotti Robert increased its holdings in Canadian Solar by 0.6% in the first quarter. Robotti Robert now owns 490,880 shares of the solar energy provider’s stock valued at $4,246,000 after buying an additional 3,000 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Canadian Solar by 184.0% during 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. Finally, Shell Asset Management Co. increased its stake in shares of Canadian Solar by 11.4% during the fourth quarter. Shell Asset Management Co. now owns 40,499 shares of the solar energy provider’s stock worth $450,000 after purchasing an additional 4,134 shares in the last quarter. Hedge funds and other institutional investors 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.