Today, Canadian Solar’s (CSIQ) “Hold” Rating Reiterate at JMP Securities

Today, Canadian Solar’s (CSIQ) “Hold” Rating Reiterate at JMP Securities
JMP Securities restated their hold rating on shares of Canadian Solar Inc. (NASDAQ:CSIQ) in a research report sent to investors on Tuesday morning.

CSIQ has been the topic of several other research reports. Roth Capital set a $20.00 price target on shares of Canadian Solar and gave the stock a buy rating in a research note on Sunday, August 21st. FBR & Co downgraded shares of Canadian Solar from an outperform rating to a market perform rating and reduced their price target for the stock from $23.00 to $12.00 in a research note on Tuesday. Zacks Investment Research raised shares of Canadian Solar from a sell rating to a hold rating in a research note on Monday, September 26th. Cowen and Company downgraded shares of Canadian Solar from an outperform rating to a market perform rating and reduced their price target for the stock from $20.00 to $13.00 in a research note on Friday, August 19th. Finally, Canaccord Genuity set a $20.00 price target on shares of Canadian Solar and gave the stock a buy rating in a research note on Friday, August 19th. Two investment 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. Canadian Solar currently has an average rating of Hold and an average target price of $21.15.

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

Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Monday, November 21st. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. Canadian Solar had a net margin of 4.26% and a return on equity of 15.81%. The business had revenue of $657.30 million for the quarter, compared to the consensus estimate of $685.28 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. On average, equities research analysts anticipate that Canadian Solar will post $1.62 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP boosted its stake in Canadian Solar by 1.4% in the second quarter. First Trust Advisors LP now owns 56,443 shares of the company’s stock worth $853,000 after buying an additional 801 shares in the last quarter. Delta Lloyd NV raised its position in shares of Canadian Solar by 14.8% in the second quarter. Delta Lloyd NV now owns 524,431 shares of the company’s stock valued at $7,929,000 after buying an additional 67,471 shares during the last quarter. RobecoSam USA Inc. raised its position in shares of Canadian Solar by 3.2% in the second quarter. RobecoSam USA Inc. now owns 32,000 shares of the company’s stock valued at $484,000 after buying an additional 1,000 shares during the last quarter. Guinness Atkinson Asset Management Inc raised its position in shares of Canadian Solar by 47.3% in the second quarter. Guinness Atkinson Asset Management Inc now owns 27,100 shares of the company’s stock valued at $410,000 after buying an additional 8,700 shares during the last quarter. Finally, Quentec Asset Management LLC raised its position in shares of Canadian Solar by 38.5% in the second quarter. Quentec Asset Management LLC now owns 1,025,265 shares of the company’s stock valued at $15,502,000 after buying an additional 284,889 shares during the last quarter. Institutional investors and hedge funds own 37.48% of the company’s stock.

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