Analysts Set Canadian Solar Inc. (NASDAQ:CSIQ) PT at $31.78

Shares of Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) have received an average rating of "Hold" from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $31.78.

A number of research analysts have commented on CSIQ shares. Wells Fargo & Company reduced their price target on shares of Canadian Solar from $28.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 19th. StockNews.com upgraded shares of Canadian Solar from a "sell" rating to a "hold" rating in a research report on Thursday, April 11th. Daiwa Capital Markets started coverage on Canadian Solar in a report on Monday, March 11th. They issued a "neutral" rating and a $21.00 price objective on the stock. Citigroup reduced their price target on Canadian Solar from $26.00 to $24.00 and set a "neutral" rating on the stock in a research report on Friday, March 15th. Finally, The Goldman Sachs Group lowered their price objective on Canadian Solar from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Friday, March 15th.

Canadian Solar Price Performance

CSIQ stock traded down $0.46 during midday trading on Thursday, reaching $14.50. The company had a trading volume of 1,476,846 shares, compared to its average volume of 1,431,765. The firm has a 50-day moving average price of $18.87 and a 200-day moving average price of $21.15. The company has a market capitalization of $935.40 million, a P/E ratio of 3.74, a P/E/G ratio of 0.23 and a beta of 1.26. Canadian Solar has a 1 year low of $14.11 and a 1 year high of $45.29. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.04 and a quick ratio of 0.84.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last released its quarterly earnings results on Thursday, March 14th. The solar energy provider reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.11. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.69 billion. Canadian Solar had a return on equity of 8.31% and a net margin of 3.60%. The company's revenue for the quarter was down 13.7% on a year-over-year basis. During the same quarter last year, the business posted $1.11 earnings per share. On average, research analysts anticipate that Canadian Solar will post 2.58 earnings per share for the current fiscal year.

Institutional Trading of Canadian Solar

A number of institutional investors have recently made changes to their positions in the stock. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Canadian Solar by 137.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,761,422 shares of the solar energy provider's stock worth $92,569,000 after purchasing an additional 2,180,240 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Canadian Solar by 27.1% in the fourth quarter. Mackenzie Financial Corp now owns 3,952,015 shares of the solar energy provider's stock worth $103,661,000 after purchasing an additional 843,100 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Canadian Solar by 15.7% during the fourth quarter. Schroder Investment Management Group now owns 1,575,683 shares of the solar energy provider's stock valued at $41,330,000 after buying an additional 213,959 shares during the last quarter. Creative Planning boosted its holdings in shares of Canadian Solar by 103.3% in the 3rd quarter. Creative Planning now owns 404,759 shares of the solar energy provider's stock valued at $9,961,000 after buying an additional 205,671 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. grew its position in shares of Canadian Solar by 67.7% in the 3rd quarter. Hussman Strategic Advisors Inc. now owns 262,500 shares of the solar energy provider's stock worth $6,460,000 after buying an additional 106,000 shares during the last quarter. Hedge funds and other institutional investors own 52.36% of the company's stock.

Canadian Solar Company Profile

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.