Canadian Solar Inc. (NASDAQ:CSIQ) Receives $18.58 Consensus Price Target from Analysts

Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) has been given a consensus recommendation of "Hold" by the eleven research firms that are covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $18.58.

Several brokerages recently weighed in on CSIQ. Jefferies Financial Group assumed coverage on shares of Canadian Solar in a research report on Friday, November 22nd. They set a "buy" rating and a $14.15 price objective on the stock. Wells Fargo & Company reduced their price target on Canadian Solar from $15.00 to $13.00 and set an "equal weight" rating for the company in a research report on Thursday, December 5th. Citigroup downgraded Canadian Solar from a "neutral" rating to a "sell" rating and cut their price objective for the company from $19.00 to $11.00 in a research note on Tuesday, October 22nd. Mizuho began coverage on shares of Canadian Solar in a report on Friday, December 13th. They set an "outperform" rating and a $20.00 price objective for the company. Finally, StockNews.com downgraded shares of Canadian Solar from a "hold" rating to a "sell" rating in a report on Wednesday, December 18th.

Canadian Solar Stock Down 1.0 %

CSIQ traded down $0.11 on Tuesday, reaching $11.12. 1,185,985 shares of the company traded hands, compared to its average volume of 1,740,322. Canadian Solar has a 52-week low of $10.60 and a 52-week high of $26.58. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. The company has a market cap of $735.69 million, a price-to-earnings ratio of -92.67, a PEG ratio of 8.89 and a beta of 1.29. The stock's 50 day moving average price is $12.48 and its 200-day moving average price is $13.92.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.13. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned $0.32 earnings per share. Canadian Solar's quarterly revenue was down 18.4% compared to the same quarter last year. On average, sell-side analysts expect that Canadian Solar will post 0.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp increased its position in shares of Canadian Solar by 25.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,115,665 shares of the solar energy provider's stock worth $75,456,000 after purchasing an additional 1,037,800 shares in the last quarter. SIR Capital Management L.P. bought a new position in shares of Canadian Solar in the second quarter valued at approximately $3,994,000. Foundry Partners LLC acquired a new position in shares of Canadian Solar in the 2nd quarter worth approximately $3,667,000. Cerity Partners LLC boosted its stake in shares of Canadian Solar by 131.5% in the 3rd quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider's stock valued at $7,186,000 after purchasing an additional 243,542 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Canadian Solar by 494.4% during the 3rd quarter. Barclays PLC now owns 115,328 shares of the solar energy provider's stock worth $1,932,000 after buying an additional 95,924 shares during the period. 52.36% of the stock is owned by institutional investors.

Canadian Solar Company Profile

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.