Canadian Solar Inc. (NASDAQ:CSIQ) Receives Average Recommendation of "Hold" from Analysts

Shares of Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) have been assigned a consensus recommendation of "Hold" from the ten analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $14.74.

A number of brokerages recently weighed in on CSIQ. The Goldman Sachs Group boosted their price objective on shares of Canadian Solar from $8.00 to $9.00 and gave the company a "sell" rating in a research report on Friday, May 16th. Wall Street Zen raised shares of Canadian Solar from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Citigroup raised shares of Canadian Solar from a "sell" rating to a "neutral" rating and set a $8.00 price objective for the company in a research report on Thursday, April 17th. Mizuho lowered their price objective on shares of Canadian Solar from $17.00 to $15.00 and set an "outperform" rating for the company in a research report on Monday, June 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Canadian Solar from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Friday, May 16th.

Canadian Solar Price Performance

CSIQ opened at $10.13 on Tuesday. The company has a 50-day moving average of $9.88 and a 200-day moving average of $10.25. The company has a market capitalization of $678.41 million, a P/E ratio of -20.26 and a beta of 1.38. Canadian Solar has a 1-year low of $6.57 and a 1-year high of $19.55. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.80 and a current ratio of 1.07.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its earnings results on Thursday, May 15th. The solar energy provider reported ($1.07) earnings per share for the quarter, topping the consensus estimate of ($1.50) by $0.43. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.11 billion. Canadian Solar had a negative net margin of 0.18% and a negative return on equity of 4.34%. The company's revenue was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 EPS. Equities analysts expect that Canadian Solar will post -0.23 EPS for the current fiscal year.

Institutional Trading of Canadian Solar

A number of institutional investors have recently made changes to their positions in CSIQ. IvyRock Asset Management HK Ltd bought a new position in shares of Canadian Solar in the fourth quarter valued at approximately $15,440,000. Greenwoods Asset Management Hong Kong Ltd. bought a new position in shares of Canadian Solar in the fourth quarter valued at approximately $7,738,000. Mackenzie Financial Corp boosted its holdings in shares of Canadian Solar by 6.9% in the fourth quarter. Mackenzie Financial Corp now owns 5,523,565 shares of the solar energy provider's stock valued at $61,422,000 after acquiring an additional 357,900 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Canadian Solar by 15.5% in the first quarter. Invesco Ltd. now owns 2,311,596 shares of the solar energy provider's stock valued at $19,995,000 after acquiring an additional 310,564 shares in the last quarter. Finally, Robotti Robert boosted its holdings in shares of Canadian Solar by 55.2% in the fourth quarter. Robotti Robert now owns 487,880 shares of the solar energy provider's stock valued at $5,425,000 after acquiring an additional 173,499 shares in the last quarter. 52.36% of the stock is owned by institutional investors and hedge funds.

About Canadian Solar

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.

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