Canadian Solar Inc. (NASDAQ:CSIQ) was downgraded by investment analysts at Vetr from a “hold” rating to a “sell” rating in a research note issued on Thursday. They presently have a $14.54 price target on the stock. Vetr‘s price target suggests a potential downside of 3.64% from the stock’s previous close.
A number of other analysts have also issued reports on CSIQ. FBR & Co restated a “buy” rating and issued a $32.00 price target on shares of Canadian Solar in a research note on Monday, June 27th. Canaccord Genuity restated a “buy” rating and issued a $29.00 price target on shares of Canadian Solar in a research note on Wednesday, June 29th. Zacks Investment Research upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Tuesday, July 5th. Morgan Stanley lowered shares of Canadian Solar from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from $24.00 to $12.80 in a research note on Wednesday, August 3rd. Finally, Roth Capital restated a “buy” rating and issued a $20.00 price target on shares of Canadian Solar in a research note on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.07.
Canadian Solar (NASDAQ:CSIQ) traded up 2.58% during mid-day trading on Thursday, hitting $15.09. 2,079,547 shares of the stock traded hands. Canadian Solar has a 1-year low of $11.72 and a 1-year high of $29.83. The stock has a 50-day moving average of $13.34 and a 200 day moving average of $15.58. The firm has a market cap of $869.26 million, a price-to-earnings ratio of 5.72 and a beta of 2.57.
Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Thursday, August 18th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.31. The business earned $805.90 million during the quarter, compared to analyst estimates of $735.82 million. Canadian Solar had a net margin of 4.45% and a return on equity of 19.71%. The business’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, equities analysts expect that Canadian Solar will post $1.56 EPS for the current year.
A number of institutional investors have recently modified their holdings of CSIQ. Riverhead Capital Management LLC boosted its position in shares of Canadian Solar by 16.2% in the second quarter. Riverhead Capital Management LLC now owns 3,476 shares of the company’s stock worth $239,000 after buying an additional 484 shares during the period. State Street Corp boosted its position in shares of Canadian Solar by 2.9% in the second quarter. State Street Corp now owns 18,651 shares of the company’s stock worth $282,000 after buying an additional 520 shares during the period. Geode Capital Management LLC boosted its position in shares of Canadian Solar by 2.1% in the first quarter. Geode Capital Management LLC now owns 29,787 shares of the company’s stock worth $574,000 after buying an additional 616 shares during the period. First Trust Advisors LP boosted its position in shares of Canadian Solar by 1.4% in the second quarter. First Trust Advisors LP now owns 56,443 shares of the company’s stock worth $853,000 after buying an additional 801 shares during the period. Finally, RobecoSam USA Inc. boosted its position in shares of Canadian Solar by 3.2% in the second quarter. RobecoSam USA Inc. now owns 32,000 shares of the company’s stock worth $484,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 34.50% of the company’s stock.
Canadian Solar Company Profile
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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