Canadian Solar Inc. (NASDAQ:CSIQ) – Stock analysts at Roth Capital lowered their FY2016 earnings estimates for Canadian Solar in a research report issued on Tuesday. Roth Capital analyst P. Shen now forecasts that the firm will post earnings per share of $1.58 for the year, down from their previous forecast of $1.87. Roth Capital has a “Neutral” rating and a $11.00 price objective on the stock. Roth Capital also issued estimates for Canadian Solar’s Q4 2016 earnings at $0.24 EPS, Q1 2017 earnings at $1.99 EPS, Q2 2017 earnings at $0.04 EPS, Q3 2017 earnings at $0.34 EPS and FY2017 earnings at $2.89 EPS.
A number of other equities research analysts have also recently commented on CSIQ. Morgan Stanley cut shares of Canadian Solar from an “overweight” rating to an “underweight” rating and lowered their price target for the stock from $24.00 to $12.80 in a report on Wednesday, August 3rd. Vetr cut shares of Canadian Solar from a “strong-buy” rating to a “hold” rating and set a $14.42 price target on the stock. in a report on Tuesday, August 9th. FBR & Co lowered their price target on shares of Canadian Solar from $32.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, August 19th. Cowen and Company cut shares of Canadian Solar from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $20.00 to $13.00 in a report 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 report on Friday, August 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $21.15.
Shares of Canadian Solar (NASDAQ:CSIQ) opened at 11.58 on Thursday. Canadian Solar has a 1-year low of $10.25 and a 1-year high of $29.83. The firm’s 50-day moving average price is $13.51 and its 200 day moving average price is $14.56. The company has a market capitalization of $669.07 million, a PE ratio of 4.83 and a beta of 3.19.
Canadian Solar (NASDAQ:CSIQ) last released its earnings results on Monday, November 21st. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. Canadian Solar had a return on equity of 15.60% and a net margin of 4.26%. The firm earned $657.30 million during the quarter, compared to analysts’ expectations of $685.28 million. During the same period in the prior year, the company earned $0.53 earnings per share. The company’s quarterly revenue was down 22.7% on a year-over-year basis.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV raised its position in shares of Canadian Solar by 59.1% in the third quarter. KBC Group NV now owns 10,289 shares of the company’s stock valued at $141,000 after buying an additional 3,820 shares during the period. Stevens Capital Management LP bought a new position in shares of Canadian Solar during the second quarter valued at about $164,000. Landscape Capital Management L.L.C. bought a new position in shares of Canadian Solar during the second quarter valued at about $166,000. BlackRock Inc. raised its position in shares of Canadian Solar by 55.2% in the second quarter. BlackRock Inc. now owns 11,970 shares of the company’s stock valued at $182,000 after buying an additional 4,256 shares during the period. Finally, Guinness Asset Management Ltd raised its position in shares of Canadian Solar by 53.2% in the second quarter. Guinness Asset Management Ltd now owns 12,100 shares of the company’s stock valued at $183,000 after buying an additional 4,200 shares during the period. Hedge funds and other institutional investors own 37.48% of the company’s stock.
Canadian Solar Company Profile