Tuesday Dec 06, 2022

Canadian Solar Inc. (NASDAQ:CSIQ) Given Average Recommendation of “Hold” by Brokerages – Defense World

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Canadian Solar Inc. (NASDAQ:CSIQ – Get Rating) has been given a consensus rating of “Hold” by the seven research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $38.00.

A number of analysts recently commented on CSIQ shares. Zacks Investment Research upgraded shares of Canadian Solar from a “sell” rating to a “hold” rating and set a $35.00 price target on the stock in a research note on Wednesday, March 2nd. StockNews.com started coverage on shares of Canadian Solar in a research note on Thursday, March 31st. They set a “hold” rating on the stock. JPMorgan Chase & Co. dropped their price target on shares of Canadian Solar from $41.00 to $39.00 in a research note on Friday, March 18th. Finally, Citigroup upped their target price on shares of Canadian Solar from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, March 28th.

Several large investors have recently modified their holdings of CSIQ. FinTrust Capital Advisors LLC bought a new position in shares of Canadian Solar in the 1st quarter worth $40,000. Great West Life Assurance Co. Can increased its holdings in shares of Canadian Solar by 115.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,098 shares of the solar energy provider’s stock worth $41,000 after buying an additional 589 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in shares of Canadian Solar in the 4th quarter worth $72,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Canadian Solar by 26.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,421 shares of the solar energy provider’s stock valued at $120,000 after purchasing an additional 719 shares during the last quarter. Finally, Fulcrum Asset Management LLP bought a new position in shares of Canadian Solar during the 4th quarter valued at $132,000. 46.97% of the stock is currently owned by hedge funds and other institutional investors.

CSIQ opened at $35.09 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.46. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 28.53 and a beta of 1.46. Canadian Solar has a twelve month low of $22.15 and a twelve month high of $48.35. The company’s 50-day moving average price is $30.75 and its two-hundred day moving average price is $31.06.

Canadian Solar (NASDAQ:CSIQ – Get Rating) last announced its quarterly earnings results on Tuesday, May 24th. The solar energy provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.31. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Canadian Solar had a net margin of 1.50% and a return on equity of 2.86%. Canadian Solar’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. As a group, sell-side analysts anticipate that Canadian Solar will post 3.06 earnings per share for the current year.

Canadian Solar Company Profile (Get Rating)

Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products. The company operates through two segments, Module and System Solutions (MSS), and Energy. The MSS segment engages in the design, development, manufacture, and …….

Source: https://www.defenseworld.net/2022/06/08/canadian-solar-inc-nasdaqcsiq-given-average-recommendation-of-hold-by-brokerages.html

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