Canadian Solar (CSIQ) Stock Rating Upgraded by BidaskClub

Canadian Solar (NASDAQ:CSIQ) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday.

CSIQ has been the subject of a number of other research reports. ValuEngine upgraded Canadian Solar from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 19th. Oppenheimer dropped their target price on Canadian Solar from $32.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, March 20th. B. Riley reissued a “hold” rating and issued a $18.00 target price on shares of Canadian Solar in a report on Tuesday, March 20th. Zacks Investment Research raised Canadian Solar from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Tuesday. Finally, JPMorgan Chase raised Canadian Solar from an “underweight” rating to a “neutral” rating and set a $16.00 target price for the company in a report on Thursday, February 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Canadian Solar currently has a consensus rating of “Hold” and a consensus price target of $17.84.

Shares of CSIQ stock opened at $17.24 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 0.29. Canadian Solar has a 12 month low of $12.24 and a 12 month high of $19.09. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 0.48 and a beta of 2.58.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Wednesday, May 16th. The solar energy provider reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.34. Canadian Solar had a return on equity of 10.51% and a net margin of 3.78%. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company earned ($0.23) EPS. The company’s quarterly revenue was up 110.5% on a year-over-year basis. equities research analysts forecast that Canadian Solar will post 1.4 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of CSIQ. BlackRock Inc. increased its holdings in Canadian Solar by 1.0% during the 1st quarter. BlackRock Inc. now owns 2,478,858 shares of the solar energy provider’s stock valued at $40,331,000 after purchasing an additional 25,550 shares in the last quarter. Park West Asset Management LLC acquired a new stake in Canadian Solar during the 1st quarter valued at $31,387,000. Millennium Management LLC increased its holdings in Canadian Solar by 4,641.5% during the 4th quarter. Millennium Management LLC now owns 1,141,385 shares of the solar energy provider’s stock valued at $19,244,000 after purchasing an additional 1,117,313 shares in the last quarter. Calamos Advisors LLC increased its holdings in Canadian Solar by 21.3% during the 4th quarter. Calamos Advisors LLC now owns 495,000 shares of the solar energy provider’s stock valued at $8,346,000 after purchasing an additional 86,927 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in Canadian Solar by 17.1% during the 4th quarter. Deutsche Bank AG now owns 339,155 shares of the solar energy provider’s stock valued at $5,717,000 after purchasing an additional 49,440 shares in the last quarter. 36.37% of the stock is owned by institutional investors and hedge funds.

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 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.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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