Canadian Solar Inc. (NASDAQ:CSIQ) Receives Consensus Recommendation of “Hold” from Analysts

Canadian Solar Inc. (NASDAQ:CSIQ) has received a consensus rating of “Hold” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $16.77.

Several research firms have recently weighed in on CSIQ. Roth Capital downgraded shares of Canadian Solar from a “buy” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research report on Friday, April 25th. StockNews.com downgraded shares of Canadian Solar from a “hold” rating to a “sell” rating in a research note on Friday, January 31st. Citigroup raised Canadian Solar from a “sell” rating to a “neutral” rating and set a $8.00 target price for the company in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group dropped their price target on Canadian Solar from $11.00 to $9.00 and set a “sell” rating on the stock in a research report on Wednesday, March 26th.

Canadian Solar Price Performance

Shares of NASDAQ:CSIQ opened at $9.81 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.06. The company has a market capitalization of $649.02 million, a PE ratio of -81.75, a price-to-earnings-growth ratio of 0.74 and a beta of 1.35. The stock has a fifty day moving average of $8.91 and a 200-day moving average of $10.76. Canadian Solar has a one year low of $6.57 and a one year high of $21.05.

Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Tuesday, March 25th. The solar energy provider reported ($1.47) EPS for the quarter, missing the consensus estimate of ($0.21) by ($1.26). The company had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) earnings per share. As a group, equities analysts anticipate that Canadian Solar will post -0.23 EPS for the current fiscal year.

Institutional Trading of Canadian Solar

Several hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp lifted its holdings in shares of Canadian Solar by 6.9% during the fourth quarter. Mackenzie Financial Corp now owns 5,523,565 shares of the solar energy provider’s stock worth $61,422,000 after buying an additional 357,900 shares during the last quarter. IvyRock Asset Management HK Ltd raised its stake in Canadian Solar by 87.8% during the 1st quarter. IvyRock Asset Management HK Ltd now owns 2,607,700 shares of the solar energy provider’s stock valued at $22,557,000 after purchasing an additional 1,219,200 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Canadian Solar by 1.2% in the 4th 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. Shah Capital Management grew its position in Canadian Solar by 825.6% in the 4th quarter. Shah Capital Management now owns 1,745,546 shares of the solar energy provider’s stock worth $19,410,000 after purchasing an additional 1,556,964 shares during the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. bought a new position in shares of Canadian Solar during the 4th quarter worth about $7,738,000. Institutional investors own 52.36% of the company’s stock.

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.