Shares of Canadian Solar (NASDAQ:CSIQ) have been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $17.73.
A number of research analysts have recently issued reports on CSIQ shares. UBS started coverage on Canadian Solar in a report on Thursday, March 15th. They set a “sell” rating and a $15.00 price target on the stock. JPMorgan Chase downgraded Canadian Solar from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $17.51 to $17.00 in a report on Tuesday, March 27th. They noted that the move was a valuation call. Axiom Securities downgraded Canadian Solar from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a report on Friday, December 15th. BidaskClub downgraded Canadian Solar from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Finally, B. Riley set a $18.00 price target on Canadian Solar and gave the company a “neutral” rating in a report on Thursday, March 15th.
A number of hedge funds have recently bought and sold shares of CSIQ. Northern Trust Corp lifted its holdings in Canadian Solar by 11.7% in the second quarter. Northern Trust Corp now owns 30,588 shares of the solar energy provider’s stock valued at $487,000 after acquiring an additional 3,198 shares during the period. State Street Corp lifted its holdings in Canadian Solar by 6.0% in the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock valued at $345,000 after acquiring an additional 1,227 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Canadian Solar by 20.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 59,255 shares of the solar energy provider’s stock valued at $998,000 after acquiring an additional 9,932 shares during the period. Quentec Asset Management LLC lifted its holdings in Canadian Solar by 1.9% in the third quarter. Quentec Asset Management LLC now owns 2,755,665 shares of the solar energy provider’s stock valued at $46,405,000 after acquiring an additional 52,412 shares during the period. Finally, Engineers Gate Manager LP bought a new position in Canadian Solar in the fourth quarter valued at about $1,940,000. 39.15% of the stock is currently owned by institutional investors.
Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Monday, March 19th. The solar energy provider reported $1.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.01. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. Canadian Solar had a return on equity of 6.11% and a net margin of 2.94%. The company’s quarterly revenue was up 65.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. research analysts predict that Canadian Solar will post 1.4 earnings per share for the current fiscal year.
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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.
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