Canadian Solar Inc. (NASDAQ:CSIQ) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research note issued on Monday. They currently have a $14.50 target price on the stock. Vetr‘s price objective would suggest a potential upside of 5.53% from the company’s current price.
CSIQ has been the subject of several other reports. Cowen and Company assumed coverage on Canadian Solar in a report on Thursday, August 25th. They issued an “outperform” rating and a $28.50 price objective for the company. Barclays PLC lowered Canadian Solar from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $24.00 to $14.00 in a report on Wednesday, August 24th. Zacks Investment Research raised Canadian Solar from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Tuesday, July 5th. FBR & Co reissued a “buy” rating and issued a $32.00 price objective on shares of Canadian Solar in a report on Monday, June 27th. Finally, Standpoint Research reissued a “buy” rating and issued a $18.00 price objective on shares of Canadian Solar in a report on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Canadian Solar has an average rating of “Buy” and an average price target of $23.07.
Shares of Canadian Solar (NASDAQ:CSIQ) opened at 13.74 on Monday. The firm has a market capitalization of $791.49 million, a PE ratio of 5.21 and a beta of 2.93. The stock has a 50 day moving average price of $13.02 and a 200 day moving average price of $15.89. Canadian Solar has a 12-month low of $11.72 and a 12-month high of $29.83.
Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, August 18th. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.31. The firm earned $805.90 million during the quarter, compared to analyst estimates of $735.82 million. Canadian Solar had a return on equity of 19.71% and a net margin of 4.45%. Canadian Solar’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 earnings per share. Analysts predict that Canadian Solar will post $1.56 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in CSIQ. Pictet Asset Management Ltd. increased its stake in Canadian Solar by 2.9% in the first quarter. Pictet Asset Management Ltd. now owns 1,074,754 shares of the company’s stock worth $24,472,000 after buying an additional 30,005 shares during the period. Ruffer LLP increased its stake in Canadian Solar by 60.8% in the second quarter. Ruffer LLP now owns 1,061,914 shares of the company’s stock worth $16,061,000 after buying an additional 401,678 shares during the period. Quentec Asset Management LLC increased its stake in Canadian Solar by 38.5% in the second quarter. Quentec Asset Management LLC now owns 1,025,265 shares of the company’s stock worth $15,502,000 after buying an additional 284,889 shares during the period. Neumeier Poma Investment Counsel LLC increased its stake in Canadian Solar by 10.5% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 1,016,190 shares of the company’s stock worth $19,592,000 after buying an additional 96,255 shares during the period. Finally, BlackRock Group LTD increased its stake in Canadian Solar by 0.9% in the second quarter. BlackRock Group LTD now owns 962,823 shares of the company’s stock worth $14,558,000 after buying an additional 8,399 shares during the period. Hedge funds and other institutional investors own 34.50% of the company’s stock.
About Canadian Solar
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
To view Vetr’s full report, visit Vetr’s official website.
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