Canadian Solar Inc. (NASDAQ:CSIQ) had its target price cut by JPMorgan Chase & Co. from $16.00 to $14.00 in a research note published on Wednesday morning. They currently have a neutral rating on the stock.
CSIQ has been the subject of several other reports. Roth Capital reaffirmed a neutral rating and set a $11.00 target price (down from $20.00) on shares of Canadian Solar in a research note on Tuesday, November 22nd. JMP Securities reaffirmed a hold rating on shares of Canadian Solar in a research note on Tuesday, November 22nd. Zacks Investment Research cut shares of Canadian Solar from a hold rating to a sell rating in a research note on Thursday, February 23rd. Guggenheim reaffirmed a neutral rating on shares of Canadian Solar in a research note on Wednesday, December 21st. Finally, FBR & Co reaffirmed a mkt perform rating and set a $13.00 target price (up from $12.00) on shares of Canadian Solar in a research note on Wednesday, March 22nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Canadian Solar currently has a consensus rating of Hold and a consensus target price of $19.49.
Canadian Solar (NASDAQ:CSIQ) opened at 11.33 on Wednesday. Canadian Solar has a 52-week low of $10.25 and a 52-week high of $19.92. The stock has a market cap of $654.94 million, a PE ratio of 10.12 and a beta of 2.78. The firm has a 50 day moving average of $13.41 and a 200-day moving average of $13.01.
Canadian Solar (NASDAQ:CSIQ) last posted its earnings results on Tuesday, March 21st. The company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.08. The company had revenue of $668.40 million for the quarter, compared to analysts’ expectations of $698.57 million. Canadian Solar had a net margin of 4.26% and a return on equity of 15.60%. The business’s revenue was down 40.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 earnings per share. Equities analysts anticipate that Canadian Solar will post $1.91 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in CSIQ. Menora Mivtachim Holdings LTD. acquired a new position in Canadian Solar during the fourth quarter valued at approximately $112,000. KBC Group NV raised its position in Canadian Solar by 59.1% in the third quarter. KBC Group NV now owns 10,289 shares of the company’s stock valued at $141,000 after buying an additional 3,820 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Canadian Solar by 27.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,514 shares of the company’s stock valued at $189,000 after buying an additional 3,350 shares during the period. Guinness Asset Management Ltd raised its position in Canadian Solar by 25.6% in the third quarter. Guinness Asset Management Ltd now owns 15,200 shares of the company’s stock valued at $209,000 after buying an additional 3,100 shares during the period. Finally, Creative Planning raised its position in Canadian Solar by 198.3% in the third quarter. Creative Planning now owns 16,591 shares of the company’s stock valued at $228,000 after buying an additional 11,030 shares during the period. Institutional investors and hedge funds own 36.88% 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.
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