Canadian Solar (CSIQ) Given a $15.00 Price Target by B. Riley Analysts
Canadian Solar (NASDAQ:CSIQ) has been assigned a $15.00 price objective by investment analysts at B. Riley in a report issued on Monday. The brokerage presently has a “hold” rating on the solar energy provider’s stock. B. Riley’s price objective points to a potential downside of 15.78% from the company’s previous close.
Several other equities research analysts have also recently weighed in on the company. Roth Capital upgraded Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Friday, November 10th. Axiom Securities set a $26.00 price target on Canadian Solar and gave the company a “buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research cut Canadian Solar from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 28th. Cowen reiterated a “hold” rating and set a $17.00 price target on shares of Canadian Solar in a research report on Sunday, October 22nd. Finally, Barclays cut Canadian Solar from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $12.00 to $14.00 in a research report on Monday, August 21st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.71.
Shares of Canadian Solar (CSIQ) opened at $17.81 on Monday. Canadian Solar has a 52-week low of $10.86 and a 52-week high of $19.09. The firm has a market capitalization of $1,000.55, a PE ratio of 82.14, a PEG ratio of 0.68 and a beta of 3.08. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45.
Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings results on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The firm had revenue of $912.20 million for the quarter, compared to analysts’ expectations of $812.37 million. During the same period in the prior year, the business posted $0.27 earnings per share. The company’s revenue was up 38.8% on a year-over-year basis. sell-side analysts predict that Canadian Solar will post 0.97 EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Pacad Investment Ltd. bought a new position in shares of Canadian Solar in the second quarter worth approximately $115,000. Legal & General Group Plc increased its position in shares of Canadian Solar by 111.1% in the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock worth $124,000 after purchasing an additional 4,100 shares during the last quarter. Columbus Circle Investors bought a new position in shares of Canadian Solar in the second quarter worth approximately $318,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Canadian Solar in the second quarter worth approximately $323,000. Finally, State Street Corp increased its position in shares of Canadian Solar by 6.0% in the second quarter. State Street Corp now owns 21,698 shares of the solar energy provider’s stock worth $345,000 after purchasing an additional 1,227 shares during the last quarter. Institutional investors own 42.52% of the company’s stock.
Canadian Solar Company Profile
Canadian Solar Inc is a solar power company. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia. Its segments include module segment, energy development segment and electricity generation segment.
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