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

Canadian Solar Inc. (NASDAQ:CSIQ) has earned an average recommendation of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.58.

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group cut Canadian Solar from a “neutral” rating to a “sell” rating and decreased their price target for the company from $14.00 to $11.00 in a research report on Tuesday, December 17th. Citigroup lowered shares of Canadian Solar from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $19.00 to $11.00 in a report on Tuesday, October 22nd. Wells Fargo & Company lowered their target price on shares of Canadian Solar from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 5th. Mizuho started coverage on shares of Canadian Solar in a research report on Friday, December 13th. They set an “outperform” rating and a $20.00 price target for the company. Finally, Jefferies Financial Group started coverage on shares of Canadian Solar in a report on Friday, November 22nd. They issued a “buy” rating and a $14.15 price target on the stock.

Canadian Solar Stock Performance

NASDAQ CSIQ opened at $12.35 on Tuesday. The firm has a market cap of $817.06 million, a P/E ratio of -102.92, a price-to-earnings-growth ratio of 8.89 and a beta of 1.27. The company has a quick ratio of 0.85, a current ratio of 1.06 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $12.34 and its 200-day moving average is $13.76. Canadian Solar has a 12-month low of $10.60 and a 12-month high of $25.43.

Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.13. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business posted $0.32 earnings per share. The business’s quarterly revenue was down 18.4% on a year-over-year basis. Sell-side analysts predict that Canadian Solar will post 0.06 earnings per share for the current year.

Institutional Trading of Canadian Solar

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Canadian Solar in the second quarter worth about $31,000. Daiwa Securities Group Inc. grew its holdings in shares of Canadian Solar by 20.3% in the third quarter. Daiwa Securities Group Inc. now owns 8,900 shares of the solar energy provider’s stock worth $149,000 after purchasing an additional 1,500 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of Canadian Solar in the third quarter worth approximately $219,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Canadian Solar by 43.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider’s stock worth $232,000 after buying an additional 4,739 shares during the period. Finally, American Century Companies Inc. raised its holdings in Canadian Solar by 8.0% during the 2nd quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider’s stock valued at $276,000 after buying an additional 1,383 shares during the last quarter. 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.