Canadian Solar (NASDAQ:CSIQ) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Thursday, June 7th, Marketbeat reports. The brokerage presently has a $15.00 price objective on the solar energy provider’s stock, down from their prior price objective of $17.00. JPMorgan Chase & Co.’s price target indicates a potential upside of 25.52% from the stock’s current price.
A number of other equities analysts have also weighed in on CSIQ. BidaskClub upgraded Canadian Solar from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. ValuEngine downgraded Canadian Solar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 13th. B. Riley set a $18.00 target price on Canadian Solar and gave the stock a “neutral” rating in a report on Thursday, March 15th. UBS Group began coverage on Canadian Solar in a research report on Thursday, March 15th. They issued a “sell” rating and a $15.00 price objective for the company. Finally, Oppenheimer decreased their price objective on Canadian Solar from $32.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, March 20th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $17.67.
CSIQ opened at $11.95 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. The company has a market cap of $693.14 million, a PE ratio of 11.49, a PEG ratio of 0.23 and a beta of 2.46. Canadian Solar has a 1 year low of $11.37 and a 1 year high of $19.09.
Canadian Solar (NASDAQ:CSIQ) last posted its quarterly earnings data on Wednesday, May 16th. The solar energy provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. The business’s revenue was up 110.5% on a year-over-year basis. research analysts predict that Canadian Solar will post 1.97 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. We Are One Seven LLC purchased a new stake in Canadian Solar in the fourth quarter worth about $142,000. Oppenheimer & Co. Inc. bought a new position in shares of Canadian Solar during the fourth quarter valued at approximately $223,000. HBK Investments L P bought a new position in shares of Canadian Solar during the fourth quarter valued at approximately $282,000. Bayesian Capital Management LP bought a new stake in shares of Canadian Solar during the first quarter valued at approximately $303,000. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Canadian Solar during the first quarter valued at approximately $318,000. Institutional investors and hedge funds own 39.08% of the company’s stock.
About Canadian Solar
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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