Canadian Solar Inc. (NASDAQ: CSIQ) Receives Average “Conserve” Analyst Rating
Shares of Canadian Solar Inc. (NASDAQ: CSIQ) received a consensus rating of “Hold” from the seven analysts who hedge the stock, reports MarketBeat. An equity research analyst rated the stock with a sell rating, three assigned a conservation rating, and three assigned a buy rating to the company. The twelve-month average target price among analysts who issued ratings on the stock in the past year is $ 45.57.
Several research analysts recently commented on CSIQ stocks. Citigroup lowered its price target for Canadian Solar shares from $ 53.00 to $ 46.00 and set a âbuyâ rating on the stock in a research note on Tuesday, December 21. Wells Fargo & Company began covering shares of Canadian Solar in a research note on Monday, November 22. They set a “on par” rating and a price target of $ 44.00 for the stock.
Hedge funds and other institutional investors have recently bought and sold stocks. Advisory Services Network LLC purchased a new equity stake in Canadian Solar during the second quarter valued at $ 29,000. Koshinski Asset Management Inc. purchased a new stake in Canadian Solar in the third quarter for a value of $ 56,000. Edmond DE Rothschild Holding SA increased its stake in Canadian Solar by 706.0% in the 2nd quarter. Edmond DE Rothschild Holding SA now owns 2,015 shares of the solar energy supplier valued at $ 90,000 after purchasing an additional 1,765 shares during the period. Harvest Fund Management Co. Ltd. purchased a new stake in Canadian Solar in the second quarter valued at $ 93,000. Finally, Exchange Traded Concepts LLC increased its stake in Canadian Solar by 36.6% in the third quarter. Exchange Traded Concepts LLC now owns 2,454 shares of the solar power supplier valued at $ 85,000 after purchasing an additional 658 shares during the period. 53.19% of the shares are held by institutional investors and hedge funds.
CSIQ shares opened at $ 29.78 on Friday. The stock has a market cap of $ 1.79 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 0.59, and a beta of 1.47. The company has a leverage ratio of 0.40, a current ratio of 1.19, and a quick ratio of 0.90. The company has a 50-day simple moving average of $ 35.03 and a 200-day simple moving average of $ 36.95. Canadian Solar has a one-year low at $ 28.11 and a one-year high at $ 67.39.
Canadian Solar (NASDAQ: CSIQ) last released its quarterly earnings data on Thursday, November 18. The solar energy supplier reported earnings of $ 0.42 per share for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.18 of $ 0.24 per share. The company posted revenue of $ 1.23 billion for the quarter, compared to analysts’ estimates of $ 1.34 billion. Canadian Solar had a net margin of 1.59% and a return on equity of 3.55%. The company’s revenue for the quarter increased 34.4% compared to the same quarter last year. In the same quarter of the previous year, the company made EPS of $ 0.15. On average, equity analysts expect Canadian Solar to post earnings per share of 1.27 for the current fiscal year.
Canadian Solar Company Profile
Canadian Solar, Inc engages in the manufacture of photovoltaic solar modules and provides solar energy solutions. It operates through the Modules and Systems (MSS) and Energy segments. The MSS segment includes the design, development, manufacture and sale of solar power products and solar system kits, as well as operation and maintenance services.
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