Canadian Solar Inc. (NASDAQ:CSIQ) Stock Has Consensus Price Target of $15.84

Key Points

• Analyst sentiment is cautious: Canadian Solar has a consensus “Reduce” rating from 12 analysts—four sell, five hold and three buy—with an average 12-month price target of $15.84.
• Recent broker actions included cuts to price targets and downgrades, including Wells Fargo lowering its target to $17 and Citi lowering its target to $15.
• Latest quarterly results were mixed: Canadian Solar reported an adjusted loss of $1.40 per share, worse than the expected $0.18 loss, while revenue of $1.21 billion topped estimates but fell 28.7% year over year.

Shares of Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) have earned a consensus rating of "Reduce" from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $15.84.

A number of equities research analysts recently issued reports on CSIQ shares. Weiss Ratings cut shares of Canadian Solar from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, August 27th. Wells Fargo & Company cut their price target on shares of Canadian Solar from $18.00 to $17.00 and set an "equal weight" rating for the company in a report on Monday, August 31st. Wall Street Zen cut shares of Canadian Solar from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 29th. Citigroup decreased their price objective on shares of Canadian Solar from $18.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, August 27th. Finally, Zacks Research lowered shares of Canadian Solar from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 15th.

Canadian Solar Stock Performance

Shares of NASDAQ CSIQ opened at $10.31 on Friday. The company has a market capitalization of $700.02 million, a PE ratio of -2.68 and a beta of 1.50. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.78 and a current ratio of 1.02. The company's fifty day moving average price is $11.24 and its 200 day moving average price is $15.21. Canadian Solar has a 1 year low of $8.79 and a 1 year high of $34.59.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The solar energy provider reported ($1.40) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($1.22). Canadian Solar had a negative return on equity of 5.57% and a negative net margin of 3.73%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company posted ($0.53) EPS. The company's revenue was down 28.7% on a year-over-year basis. On average, research analysts predict that Canadian Solar will post -2.93 earnings per share for the current year.

Institutional Investors Weigh In On Canadian Solar

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new position in Canadian Solar in the 2nd quarter valued at about $25,000. Optiver Holding B.V. purchased a new position in Canadian Solar in the 1st quarter valued at approximately $44,000. Public Employees Retirement System of Ohio acquired a new position in shares of Canadian Solar in the second quarter worth $59,000. Global Retirement Partners LLC acquired a new position in shares of Canadian Solar in the second quarter worth $96,000. Finally, Danske Bank A S purchased a new stake in shares of Canadian Solar during the second quarter worth $100,000. Institutional investors and hedge funds own 52.36% of the company's stock.

Canadian Solar Company Profile

Canadian Solar Inc is a global solar energy company that designs, manufactures and delivers renewable energy products and solutions. Founded in 2001 by Dr. Shawn Qu, the company is headquartered in Guelph, Ontario, Canada, and serves customers in markets across North America, Latin America, Europe, Africa, the Middle East, Australia and Asia.

Through its CSI Solar business, Canadian Solar provides photovoltaic solar modules, inverters, battery energy storage systems and other components used in residential, commercial, industrial and utility-scale projects.

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