Canadian Solar Inc. (NASDAQ:CSIQ) Receives $14.74 Average Target Price from Analysts

Shares of Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) have been given an average rating of "Hold" by the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $14.74.

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

Institutional Trading of Canadian Solar

A number of institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Canadian Solar by 59.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 180,792 shares of the solar energy provider's stock valued at $2,010,000 after buying an additional 67,331 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. purchased a new position in shares of Canadian Solar in the 4th quarter valued at $7,738,000. Sciencast Management LP acquired a new position in shares of Canadian Solar during the 4th quarter valued at $113,000. Quantbot Technologies LP increased its holdings in Canadian Solar by 20.3% in the 4th quarter. Quantbot Technologies LP now owns 79,643 shares of the solar energy provider's stock valued at $886,000 after purchasing an additional 13,446 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Canadian Solar by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 2,027,302 shares of the solar energy provider's stock valued at $22,544,000 after purchasing an additional 23,355 shares during the period. Hedge funds and other institutional investors own 52.36% of the company's stock.

Canadian Solar Stock Up 1.7%

Shares of NASDAQ:CSIQ traded up $0.19 during trading hours on Tuesday, reaching $11.33. The stock had a trading volume of 691,466 shares, compared to its average volume of 1,841,567. Canadian Solar has a 1 year low of $6.57 and a 1 year high of $19.55. The stock has a market capitalization of $758.77 million, a price-to-earnings ratio of -22.66 and a beta of 1.38. 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 moving average is $10.09 and its 200-day moving average is $10.24.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its earnings results 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. The firm had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.11 billion. Canadian Solar had a negative return on equity of 4.34% and a negative net margin of 0.18%. The business's revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. Research analysts predict that Canadian Solar will post -0.23 earnings per share for the current fiscal 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.