Wednesday Feb 08, 2023

Canadian Solar Inc. (NASDAQ:CSIQ) Receives Average Rating of “Hold” from Analysts – Defense World

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Shares of Canadian Solar Inc. (NASDAQ:CSIQ – Get Rating) have earned a consensus rating of “Hold” from the eight ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $40.86.

A number of analysts have commented on the company. Zacks Investment Research raised Canadian Solar from a “sell” rating to a “hold” rating and set a $35.00 target price for the company in a report on Wednesday, March 2nd. StockNews.com assumed coverage on Canadian Solar in a report on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. reduced their target price on Canadian Solar from $41.00 to $39.00 in a report on Friday, March 18th. Finally, Citigroup lifted their target price on Canadian Solar from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, March 28th.

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

Shares of NASDAQ:CSIQ opened at $24.34 on Friday. The stock has a fifty day simple moving average of $32.19 and a two-hundred day simple moving average of $32.17. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 16.79 and a beta of 1.47. Canadian Solar has a 12-month low of $22.15 and a 12-month high of $48.35. The company has a current ratio of 1.18, a quick ratio of 0.89 and a debt-to-equity ratio of 0.35.

Canadian Solar (NASDAQ:CSIQ – Get Rating) last announced its quarterly earnings data on Thursday, March 17th. The solar energy provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.21). The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Canadian Solar had a net margin of 1.80% and a return on equity of 3.63%. The firm’s quarterly revenue was up 46.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 EPS. As a group, equities research analysts predict that Canadian Solar will post 3.31 EPS 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 sale of a range of solar power products, including standard solar modules, …….

Source: https://www.defenseworld.net/2022/05/14/canadian-solar-inc-nasdaqcsiq-receives-average-rating-of-hold-from-analysts.html

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