Canadian Solar (NASDAQ:CSIQ) Downgraded to Hold at BidaskClub

Canadian Solar (NASDAQ:CSIQ) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, January 18th.

CSIQ has been the subject of several other reports. Goldman Sachs Group assumed coverage on shares of Canadian Solar in a research report on Tuesday, January 9th. They issued a “neutral” rating and a $19.00 target price for the company. Zacks Investment Research upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, November 13th. B. Riley set a $15.00 price objective on shares of Canadian Solar and gave the stock a “hold” rating in a research note on Monday, December 11th. Cowen restated a “hold” rating and issued a $17.00 price objective on shares of Canadian Solar in a research note on Sunday, October 22nd. Finally, Roth Capital upgraded shares of Canadian Solar from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $18.91.

Shares of Canadian Solar (NASDAQ CSIQ) traded down $0.26 on Thursday, reaching $14.89. 1,117,891 shares of the company were exchanged, compared to its average volume of 842,139. Canadian Solar has a 52-week low of $10.86 and a 52-week high of $19.09. The stock has a market capitalization of $861.09, a P/E ratio of 36.32, a PEG ratio of 0.31 and a beta of 2.71. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.95 and a quick ratio of 0.88.

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

Several hedge funds have recently made changes to their positions in CSIQ. J&P China Capital Management CO. Ltd. acquired a new position in shares of Canadian Solar in the 3rd quarter valued at $11,792,000. Quentec Asset Management LLC grew its holdings in shares of Canadian Solar by 18.6% in the 2nd quarter. Quentec Asset Management LLC now owns 2,703,253 shares of the solar energy provider’s stock worth $43,036,000 after purchasing an additional 424,601 shares during the last quarter. Quantitative Investment Management LLC bought a new stake in shares of Canadian Solar in the 2nd quarter worth about $2,803,000. Hussman Strategic Advisors Inc. bought a new stake in shares of Canadian Solar in the 3rd quarter worth about $2,526,000. Finally, Calamos Advisors LLC grew its holdings in shares of Canadian Solar by 45.2% in the 3rd quarter. Calamos Advisors LLC now owns 408,073 shares of the solar energy provider’s stock worth $6,872,000 after purchasing an additional 127,073 shares during the last quarter. Institutional investors own 41.82% of the company’s stock.

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About Canadian Solar

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.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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