Shares of Canadian Solar Inc. (NASDAQ:CSIQ – Get Free Report) have earned an average rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has 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 1 year price target among brokers that have issued a report on the stock in the last year is $31.78.
Several equities research analysts have recently issued reports on CSIQ shares. StockNews.com cut shares of Canadian Solar from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Daiwa Capital Markets assumed coverage on shares of Canadian Solar in a research report on Monday, March 11th. They set a “neutral” rating and a $21.00 price objective for the company. Citigroup reduced their price target on shares of Canadian Solar from $26.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. The Goldman Sachs Group reduced their price target on shares of Canadian Solar from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Finally, Wells Fargo & Company reduced their price target on shares of Canadian Solar from $28.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 19th.
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Canadian Solar Price Performance
Shares of CSIQ opened at $19.76 on Friday. The business’s 50-day moving average is $21.17 and its two-hundred day moving average is $22.25. The company has a market capitalization of $1.27 billion, a P/E ratio of 5.09, a P/E/G ratio of 0.30 and a beta of 1.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.04. Canadian Solar has a fifty-two week low of $17.82 and a fifty-two week high of $45.29.
Canadian Solar (NASDAQ:CSIQ – Get Free Report) last issued its quarterly earnings results on Thursday, March 14th. The solar energy provider reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.11. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.69 billion. Canadian Solar had a net margin of 3.60% and a return on equity of 8.31%. Canadian Solar’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same period last year, the company posted $1.11 EPS. Research analysts predict that Canadian Solar will post 2.67 earnings per share for the current year.
Canadian Solar Company Profile
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power and battery storage products in Asia, the Americas, Europe, and internationally. The company operates through two segments, Canadian Solar Inc (CSI) Solar and Global Energy.
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