Canadian Solar (NASDAQ:CSIQ) – Equities researchers at B. Riley raised their Q4 2018 EPS estimates for Canadian Solar in a research note issued to investors on Thursday, May 17th. B. Riley analyst C. Driscoll now expects that the solar energy provider will earn $0.56 per share for the quarter, up from their previous estimate of $0.46. B. Riley has a “Hold” rating and a $18.00 price objective on the stock. B. Riley also issued estimates for Canadian Solar’s Q4 2019 earnings at $0.50 EPS.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Canadian Solar from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday. ValuEngine lowered Canadian Solar from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. BidaskClub lowered Canadian Solar from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. JPMorgan Chase upgraded Canadian Solar from an “underweight” rating to a “neutral” rating and set a $16.00 target price on the stock in a research note on Thursday, February 1st. Finally, Oppenheimer decreased their target price on Canadian Solar from $32.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 20th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Canadian Solar presently has an average rating of “Hold” and an average target price of $17.84.
Shares of NASDAQ CSIQ opened at $17.45 on Friday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 0.48 and a beta of 2.58. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.91 and a current ratio of 0.99. Canadian Solar has a twelve month low of $16.19 and a twelve month high of $17.45.
Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Wednesday, May 16th. The solar energy provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.34. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Canadian Solar had a return on equity of 10.89% and a net margin of 3.78%. The company’s quarterly revenue was up 110.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.23) EPS.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Park West Asset Management LLC purchased a new position in shares of Canadian Solar in the 1st quarter worth about $31,387,000. Element Capital Management LLC purchased a new position in shares of Canadian Solar in the 1st quarter worth about $456,000. Bayesian Capital Management LP purchased a new position in shares of Canadian Solar in the 1st quarter worth about $303,000. Van ECK Associates Corp boosted its holdings in shares of Canadian Solar by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 56,836 shares of the solar energy provider’s stock worth $925,000 after purchasing an additional 3,963 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Canadian Solar by 1.0% in the 1st quarter. BlackRock Inc. now owns 2,478,858 shares of the solar energy provider’s stock worth $40,331,000 after purchasing an additional 25,550 shares in the last quarter. Hedge funds and other institutional investors own 36.37% of the company’s stock.
About Canadian Solar
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.
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