Several brokerages have updated their recommendations and price targets on shares of Canadian Solar (NASDAQ: CSIQ) in the last few weeks:

  • 11/15/2017 – Canadian Solar was given a new $26.00 price target on by analysts at Axiom Securities. They now have a “buy” rating on the stock.
  • 11/14/2017 – Canadian Solar was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Canadian Solar’s third-quarter 2017 earnings came in line with the Zacks Consensus Estimate, but declined year-over-year. Meanwhile, revenues surpassed the consensus mark and improved year over year. The company also increased its earnings guidance for 2017. Notably, Canadian Solar caters to a geographically diverse customer base spread across both key markets and emerging markets. Therefore, it  is gradually gaining share in Asia, which could soon become a major solar market. Its strong pipeline of projects along with pertinent inorganic strategies will further consolidate its position. However, the company is expected to continue experiencing market dislocation in the near term, which might directly impact its 2017 financial performance. Stiff competition from cheaper alternatives and exposure to foreign exchange risks are added concerns. Shares of Canadian Solar also underperformed the broader industry in the last year.”
  • 11/13/2017 – Canadian Solar was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $20.00 price target on the stock. According to Zacks, “Canadian Solar’s third-quarter 2017 earnings came in line with the Zacks Consensus Estimate, but declined year-over-year. Meanwhile, revenues surpassed the consensus mark and improved year over year. The company also increased its earnings guidance for 2017. Notably, Canadian Solar caters to a geographically diverse customer base spread across both key markets and emerging markets. Therefore, it  is gradually gaining share in Asia, which could soon become a major solar market. Its strong pipeline of projects along with pertinent inorganic strategies will further consolidate its position. However, the company is expected to continue experiencing market dislocation in the near term, which might directly impact its 2017 financial performance. Stiff competition from cheaper alternatives and exposure to foreign exchange risks are added concerns.”
  • 11/10/2017 – Canadian Solar was upgraded by analysts at Roth Capital from a “neutral” rating to a “buy” rating. They now have a $24.00 price target on the stock.
  • 11/1/2017 – Canadian Solar had its “neutral” rating reaffirmed by analysts at B. Riley.
  • 10/24/2017 – Canadian Solar was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Canadian Solar caters to a geographically diverse customer base spread across both key markets and emerging markets. It is gradually gaining share in Asia, which could soon become a major solar market. Its strong pipeline of projects along with pertinent inorganic strategies will further consolidate its position. However, the company is expected to continue experiencing market dislocation in the near term, which will directly impact its 2017 financial performance. Again, its top line is heavily skewed towards foreign sales, exposing the company to foreign exchange risks.Stiff competition from cheaper alternatives and exposure to foreign exchange risks are added concerns. Also, Canadian Solar underperformed the broader industry in the last year.”
  • 10/22/2017 – Canadian Solar had its “hold” rating reaffirmed by analysts at Cowen Inc. They now have a $17.00 price target on the stock.
  • 10/17/2017 – Canadian Solar was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Canadian Solar is expected to continue experiencing market dislocation in the near term, which will directly impact its 2017 financial performance. Again, its top line is heavily skewed towards foreign sales, exposing the company to foreign exchange risks.Stiff competition from cheaper alternatives and exposure to foreign exchange risks are added concerns. Also, Canadian Solar underperformed the broader industry in the last year. On the brighter note, the company caters to a geographically diverse customer base spread across both key markets and emerging markets. It is gradually gaining share in Asia, which could soon become a major solar market.”

Shares of Canadian Solar Inc. (CSIQ) traded down $0.04 during trading hours on Friday, reaching $18.11. The company’s stock had a trading volume of 151,386 shares, compared to its average volume of 1,255,719. The company has a current ratio of 0.95, a quick ratio of 0.88 and a debt-to-equity ratio of 0.45. The stock has a market cap of $1,052.76, a PE ratio of 86.43, a P/E/G ratio of 0.72 and a beta of 3.12. Canadian Solar Inc. has a 12 month low of $10.36 and a 12 month high of $19.09.

Canadian Solar (NASDAQ:CSIQ) last issued its earnings results on Thursday, November 9th. The solar energy provider reported $0.22 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.22. The company had revenue of $912.20 million during the quarter, compared to analysts’ expectations of $812.37 million. Canadian Solar had a return on equity of 1.32% and a net margin of 0.84%. The firm’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS. analysts predict that Canadian Solar Inc. will post 0.97 EPS for the current year.

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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