Canadian Solar Inc. (NASDAQ:CSIQ) – FBR & Co lowered their Q1 2017 earnings per share (EPS) estimates for Canadian Solar in a research report issued on Wednesday. FBR & Co analyst C. Driscoll now expects that the brokerage will post earnings per share of ($0.21) for the quarter, down from their prior forecast of $0.20. FBR & Co currently has a “Mkt Perform” rating and a $13.00 target price on the stock. FBR & Co also issued estimates for Canadian Solar’s Q2 2017 earnings at $0.25 EPS and Q3 2017 earnings at $0.76 EPS.
A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Canadian Solar from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, January 24th. Roth Capital set a $12.00 price objective on shares of Canadian Solar and gave the company a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. cut shares of Canadian Solar from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $15.36 to $16.00 in a research note on Wednesday, February 22nd. Finally, Guggenheim restated a “neutral” rating on shares of Canadian Solar in a research note on Wednesday, December 21st. Three analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $19.49.
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Shares of Canadian Solar (NASDAQ:CSIQ) opened at 11.15 on Friday. Canadian Solar has a 1-year low of $10.25 and a 1-year high of $19.92. The firm’s 50 day moving average is $13.44 and its 200 day moving average is $13.04. The firm has a market capitalization of $644.22 million, a PE ratio of 4.65 and a beta of 2.78.
Canadian Solar (NASDAQ:CSIQ) last released its quarterly earnings results on Tuesday, March 21st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.08. Canadian Solar had a return on equity of 15.60% and a net margin of 4.26%. The firm had revenue of $668.40 million for the quarter, compared to analyst estimates of $698.57 million. During the same period in the prior year, the business earned $1.05 earnings per share. Canadian Solar’s revenue for the quarter was down 40.3% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in CSIQ. Menora Mivtachim Holdings LTD. acquired a new position in Canadian Solar during the fourth quarter valued at $112,000. KBC Group NV boosted its position in 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. Raymond James Financial Services Advisors Inc. boosted its position in Canadian Solar by 27.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,514 shares of the company’s stock valued at $189,000 after buying an additional 3,350 shares during the period. Guinness Asset Management Ltd boosted its position in Canadian Solar by 25.6% in the third quarter. Guinness Asset Management Ltd now owns 15,200 shares of the company’s stock valued at $209,000 after buying an additional 3,100 shares during the period. Finally, Creative Planning boosted its position in Canadian Solar by 198.3% in the third quarter. Creative Planning now owns 16,591 shares of the company’s stock valued at $228,000 after buying an additional 11,030 shares during the period. 36.88% of the stock is currently owned by institutional investors.
Canadian Solar Company Profile
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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