Canadian Solar Inc. (NASDAQ:CSIQ) Given Consensus Rating of "Hold" by Analysts

Shares of Canadian Solar Inc. (NASDAQ:CSIQ - Get Free Report) have been given an average recommendation of "Hold" by the ten research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $23.33.

CSIQ has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Canadian Solar from $17.00 to $20.00 and gave the company an "underweight" rating in a report on Tuesday, July 16th. The Goldman Sachs Group reduced their price target on shares of Canadian Solar from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, August 26th. StockNews.com cut shares of Canadian Solar from a "hold" rating to a "sell" rating in a report on Wednesday, July 31st. Glj Research upped their price objective on shares of Canadian Solar from $9.10 to $12.28 and gave the company a "sell" rating in a report on Tuesday, July 30th. Finally, Oppenheimer decreased their target price on Canadian Solar from $43.00 to $27.00 and set an "outperform" rating for the company in a report on Friday, August 23rd.

Canadian Solar Trading Down 3.2 %

Shares of CSIQ traded down $0.40 during trading hours on Thursday, reaching $12.27. 1,903,768 shares of the company traded hands, compared to its average volume of 1,605,852. The company has a market capitalization of $811.77 million, a price-to-earnings ratio of 4.24, a price-to-earnings-growth ratio of 4.92 and a beta of 1.31. The company's fifty day moving average price is $13.99 and its two-hundred day moving average price is $15.67. Canadian Solar has a 12 month low of $11.41 and a 12 month high of $26.85. The company has a quick ratio of 0.82, a current ratio of 1.04 and a debt-to-equity ratio of 0.53.

Canadian Solar (NASDAQ:CSIQ - Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The solar energy provider reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.03. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. Canadian Solar had a net margin of 0.56% and a return on equity of 0.99%. The firm's revenue for the quarter was down 30.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.39 EPS. Equities research analysts predict that Canadian Solar will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in shares of Canadian Solar during the second quarter valued at $31,000. Daiwa Securities Group Inc. grew its holdings in shares of Canadian Solar by 72.1% during the first quarter. Daiwa Securities Group Inc. now owns 7,400 shares of the solar energy provider's stock valued at $146,000 after buying an additional 3,100 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Canadian Solar by 43.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,733 shares of the solar energy provider's stock valued at $232,000 after purchasing an additional 4,739 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its stake in Canadian Solar by 27.6% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 17,435 shares of the solar energy provider's stock valued at $257,000 after buying an additional 3,768 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Canadian Solar by 8.0% during the second quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider's stock worth $276,000 after acquiring an additional 1,383 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company's stock.

About Canadian Solar

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.