Today, Canadian Solar Inc. (CSIQ) Earns Neutral Rating from Roth Capital

Today, Canadian Solar Inc. (CSIQ) Earns Neutral Rating from Roth Capital
Roth Capital reissued their neutral rating on shares of Canadian Solar Inc. (NASDAQ:CSIQ) in a report published on Tuesday morning. The brokerage currently has a $11.00 target price on the stock.

CSIQ has been the topic of a number of other research reports. Vetr raised Canadian Solar from a hold rating to a buy rating and set a $14.92 target price on the stock in a research report on Tuesday, October 4th. Cowen and Company started coverage on Canadian Solar in a research report on Thursday, August 25th. They issued an outperform rating and a $28.50 target price on the stock. Zacks Investment Research downgraded Canadian Solar from a hold rating to a sell rating in a research report on Tuesday, October 18th. Canaccord Genuity set a $20.00 target price on Canadian Solar and gave the company a buy rating in a research report on Friday, August 19th. Finally, JMP Securities began coverage on Canadian Solar in a research report on Thursday, September 8th. They issued a market perform rating on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $21.15.

Canadian Solar (NASDAQ:CSIQ) opened at 10.83 on Tuesday. The firm has a market cap of $625.74 million, a PE ratio of 4.52 and a beta of 3.19. The firm has a 50-day moving average price of $13.63 and a 200 day moving average price of $14.58. Canadian Solar has a 12-month low of $10.25 and a 12-month high of $29.83.

Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Monday, November 21st. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. The business had revenue of $657.30 million for the quarter, compared to the consensus estimate of $685.28 million. Canadian Solar had a return on equity of 15.81% and a net margin of 4.26%. Canadian Solar’s quarterly revenue was down 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. Equities research analysts forecast that Canadian Solar will post $1.62 EPS for the current year.

Several large investors have recently modified their holdings of the stock. DnB Asset Management AS boosted its stake in shares of Canadian Solar by 42.0% in the third quarter. DnB Asset Management AS now owns 4,704,602 shares of the company’s stock valued at $64,236,000 after buying an additional 1,392,600 shares during the period. Quentec Asset Management LLC boosted its stake in shares of Canadian Solar by 55.9% in the third quarter. Quentec Asset Management LLC now owns 1,598,228 shares of the company’s stock valued at $21,960,000 after buying an additional 572,963 shares during the period. BlackRock Group LTD boosted its stake in shares of Canadian Solar by 56.8% in the third quarter. BlackRock Group LTD now owns 1,509,978 shares of the company’s stock valued at $20,748,000 after buying an additional 547,155 shares during the period. Ruffer LLP boosted its stake in shares of Canadian Solar by 60.8% in the second quarter. Ruffer LLP now owns 1,061,914 shares of the company’s stock valued at $16,061,000 after buying an additional 401,678 shares during the period. Finally, Key Group Holdings Cayman LTD. boosted its stake in shares of Canadian Solar by 214.5% in the second quarter. Key Group Holdings Cayman LTD. now owns 710,554 shares of the company’s stock valued at $10,744,000 after buying an additional 484,619 shares during the period. Institutional investors and hedge funds own 37.48% of the company’s stock.

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.

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