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

Canadian Solar Inc. (NASDAQ:CSIQ) has earned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $14.16.

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

Hedge Funds Weigh In On Canadian Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Canadian Solar by 59.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,792 shares of the solar energy provider’s stock worth $2,010,000 after acquiring an additional 67,331 shares during the period. Sciencast Management LP acquired a new stake in Canadian Solar during the 4th quarter worth about $113,000. Quantbot Technologies LP lifted its position in Canadian Solar by 20.3% during the 4th quarter. Quantbot Technologies LP now owns 79,643 shares of the solar energy provider’s stock worth $886,000 after acquiring an additional 13,446 shares during the period. Vanguard Group Inc. lifted its position in Canadian Solar by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 2,027,302 shares of the solar energy provider’s stock worth $22,544,000 after acquiring an additional 23,355 shares during the period. Finally, IvyRock Asset Management HK Ltd acquired a new stake in Canadian Solar during the 4th quarter worth about $15,440,000. Hedge funds and other institutional investors own 52.36% of the company’s stock.

Canadian Solar Stock Performance

Shares of NASDAQ:CSIQ opened at $12.25 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.80 and a current ratio of 1.07. The firm’s 50 day simple moving average is $11.22 and its 200-day simple moving average is $10.33. Canadian Solar has a one year low of $6.57 and a one year high of $19.55. The firm 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 released its quarterly earnings data on Thursday, May 15th. The solar energy provider reported ($1.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm earned $0.19 earnings per share. The company’s quarterly revenue was down 10.0% on a year-over-year basis. As a group, equities analysts predict that Canadian Solar will post -0.23 EPS for the current year.

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.