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

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) have been given an average rating of “Reduce” by the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $19.8489.

CSIQ has been the subject of a number of research reports. Roth Mkm increased their target price on Canadian Solar from $11.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, November 17th. Mizuho restated an “underperform” rating and set a $21.00 price objective (up from $15.00) on shares of Canadian Solar in a report on Wednesday, November 19th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $19.64 price objective (up from $13.70) on shares of Canadian Solar in a research report on Monday, November 3rd. Citigroup reiterated a “sell” rating and set a $11.00 target price on shares of Canadian Solar in a report on Tuesday, October 21st. Finally, UBS Group boosted their price target on Canadian Solar from $15.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, November 19th.

Canadian Solar Trading Up 4.8%

Shares of NASDAQ CSIQ opened at $20.04 on Wednesday. Canadian Solar has a twelve month low of $6.57 and a twelve month high of $34.59. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -55.67 and a beta of 1.28. The company has a quick ratio of 0.86, a current ratio of 1.07 and a debt-to-equity ratio of 0.93. The company’s fifty day moving average is $23.10 and its 200-day moving average is $18.11.

Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings data on Thursday, November 13th. The solar energy provider reported ($0.58) EPS for the quarter, beating analysts’ consensus estimates of ($1.08) by $0.50. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Canadian Solar had a net margin of 0.27% and a negative return on equity of 5.28%. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.31) EPS. Equities research analysts predict that Canadian Solar will post -0.23 EPS for the current year.

Institutional Trading of Canadian Solar

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC grew its holdings in shares of Canadian Solar by 646.2% in the 3rd quarter. SG Americas Securities LLC now owns 236,289 shares of the solar energy provider’s stock valued at $3,081,000 after acquiring an additional 204,623 shares in the last quarter. Inceptionr LLC bought a new position in Canadian Solar in the second quarter valued at approximately $152,000. Mackenzie Financial Corp increased its position in shares of Canadian Solar by 7.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,884,865 shares of the solar energy provider’s stock worth $64,969,000 after purchasing an additional 405,800 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Canadian Solar by 21.7% during the 2nd quarter. Legal & General Group Plc now owns 1,815,113 shares of the solar energy provider’s stock worth $20,039,000 after purchasing an additional 324,254 shares in the last quarter. Finally, Bryn Mawr Trust Advisors LLC boosted its holdings in shares of Canadian Solar by 12.6% in the 2nd quarter. Bryn Mawr Trust Advisors LLC now owns 24,650 shares of the solar energy provider’s stock valued at $272,000 after buying an additional 2,750 shares during the last quarter. Institutional investors own 52.36% of the company’s stock.

Canadian Solar Company Profile

Canadian Solar Inc (NASDAQ: CSIQ) is a global renewable energy company that specializes in the design, development and manufacturing of solar photovoltaic (PV) modules and system solutions. Founded in 2001 and headquartered in Guelph, Ontario, the company has grown to become one of the world’s largest solar module suppliers. Canadian Solar offers a comprehensive portfolio of products, including mono- and multi-crystalline solar cells and modules, as well as advanced energy storage and system integration solutions tailored for residential, commercial and utility-scale applications.

In addition to manufacturing solar components, Canadian Solar provides end-to-end services encompassing project development, engineering, procurement and construction (EPC), as well as operations and maintenance.