B. Riley set a $18.00 target price on Canadian Solar (NASDAQ:CSIQ) in a report published on Wednesday morning. The firm currently has a hold rating on the solar energy provider’s stock. B. Riley also issued estimates for Canadian Solar’s Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.61 EPS, FY2018 earnings at $2.06 EPS, Q1 2019 earnings at $0.52 EPS, Q3 2019 earnings at $0.68 EPS and Q4 2019 earnings at $0.55 EPS.

Several other equities research analysts have also issued reports on the stock. ValuEngine lowered shares of Canadian Solar from a buy rating to a hold rating in a research note on Saturday, June 2nd. Zacks Investment Research lowered shares of Canadian Solar from a hold rating to a sell rating in a research note on Tuesday, July 17th. BidaskClub upgraded shares of Canadian Solar from a sell rating to a hold rating in a research note on Tuesday, July 10th. Finally, JPMorgan Chase & Co. upgraded shares of Canadian Solar from an underweight rating to a neutral rating and lowered their price target for the company from $17.00 to $15.00 in a research note on Thursday, June 7th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $17.40.

Shares of CSIQ stock opened at $13.11 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. Canadian Solar has a 1 year low of $11.37 and a 1 year high of $19.09. The firm has a market capitalization of $828.28 million, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 0.29 and a beta of 2.47.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings results on Tuesday, August 14th. The solar energy provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). Canadian Solar had a net margin of 3.78% and a return on equity of 10.51%. The business had revenue of $650.10 million during the quarter, compared to analyst estimates of $711.53 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. research analysts expect that Canadian Solar will post 1.89 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the company. KBC Group NV increased its stake in shares of Canadian Solar by 411.7% during the 1st quarter. KBC Group NV now owns 59,433 shares of the solar energy provider’s stock worth $967,000 after purchasing an additional 47,819 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Canadian Solar by 11.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 72,283 shares of the solar energy provider’s stock worth $1,177,000 after purchasing an additional 7,576 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Canadian Solar by 7.5% during 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 during the last quarter. Trexquant Investment LP increased its stake in shares of Canadian Solar by 233.6% during the 1st quarter. Trexquant Investment LP now owns 130,519 shares of the solar energy provider’s stock worth $2,124,000 after purchasing an additional 91,391 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Canadian Solar by 1.0% during 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 during the last quarter. Institutional investors own 36.75% of the company’s stock.

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 System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.

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Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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