Canadian Solar Inc. (NASDAQ:CSIQ) Given Average Rating of "Hold" by Brokerages

Key Points

• Analysts give Canadian Solar an average rating of "Hold" from 13 firms (4 sell, 5 hold, 3 buy, 1 strong buy) with an average 12‑month price target of $18.36.
• Several firms have recently cut targets and ratings — including Wall Street Zen to a strong sell and multiple price target reductions into the ~$15–$19 range — signaling downward revisions from analysts.
• Fundamentals are weak: the stock opened around $13.20, trades below its 50‑ and 200‑day averages, has a market cap of about $895M, reported quarterly EPS of ($1.66) and a negative net margin, with analysts forecasting ~-0.23 EPS for the year.

Shares of Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) have earned an average recommendation of "Hold" from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $18.3640.

A number of research firms have weighed in on CSIQ. Wall Street Zen cut shares of Canadian Solar from a "hold" rating to a "strong sell" rating in a research note on Monday. Roth Mkm decreased their target price on shares of Canadian Solar from $30.00 to $15.00 and set a "neutral" rating on the stock in a research note on Monday, March 23rd. Oppenheimer decreased their target price on shares of Canadian Solar from $38.00 to $19.00 and set an "outperform" rating on the stock in a research note on Friday, March 20th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Canadian Solar in a research note on Friday, March 27th. Finally, Mizuho cut their price target on shares of Canadian Solar from $19.00 to $15.00 and set a "neutral" rating on the stock in a report on Monday, March 23rd.

Canadian Solar Stock Performance

NASDAQ CSIQ opened at $13.20 on Monday. The firm's fifty day moving average price is $16.38 and its two-hundred day moving average price is $19.90. The stock has a market cap of $895.09 million, a PE ratio of -5.28 and a beta of 1.37. Canadian Solar has a fifty-two week low of $6.96 and a fifty-two week high of $34.59. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.83 and a current ratio of 1.02.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last posted its earnings results on Saturday, February 14th. The solar energy provider reported ($1.66) earnings per share for the quarter. The company had revenue of $1.22 billion for the quarter. Canadian Solar had a negative return on equity of 4.95% and a negative net margin of 1.86%. On average, equities analysts expect that Canadian Solar will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Canadian Solar

Hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in shares of Canadian Solar during the second quarter worth $33,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Canadian Solar by 335.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 3,198 shares of the solar energy provider's stock worth $42,000 after purchasing an additional 2,463 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in shares of Canadian Solar during the fourth quarter worth $48,000. Quarry LP acquired a new position in shares of Canadian Solar during the fourth quarter worth $54,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Canadian Solar by 7.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,796 shares of the solar energy provider's stock worth $63,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 52.36% of the company's stock.

About Canadian Solar

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.

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