Canadian Solar (NASDAQ:CSIQ) Research Coverage Started at Mizuho

Mizuho began coverage on shares of Canadian Solar (NASDAQ:CSIQ) in a research report report published on Friday morning, Marketbeat reports. The brokerage issued an outperform rating and a $20.00 target price on the solar energy provider’s stock.

A number of other research firms also recently issued reports on CSIQ. Wells Fargo & Company dropped their price objective on shares of Canadian Solar from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 5th. The Goldman Sachs Group decreased their target price on shares of Canadian Solar from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, August 26th. Jefferies Financial Group began coverage on shares of Canadian Solar in a report on Friday, November 22nd. They issued a “buy” rating and a $14.15 price target on the stock. StockNews.com upgraded Canadian Solar from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Finally, Oppenheimer dropped their target price on Canadian Solar from $43.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, August 23rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.04.

Canadian Solar Stock Up 2.5 %

Shares of NASDAQ CSIQ opened at $12.69 on Friday. Canadian Solar has a 1 year low of $10.91 and a 1 year high of $26.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85. The company has a market cap of $839.56 million, a P/E ratio of -105.75, a PEG ratio of 8.89 and a beta of 1.29. The firm has a 50-day simple moving average of $13.00 and a two-hundred day simple moving average of $14.47.

Canadian Solar (NASDAQ:CSIQ) last announced its quarterly earnings data on Thursday, December 5th. The solar energy provider reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.71 billion. Canadian Solar had a net margin of 0.01% and a return on equity of 0.02%. The firm’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Research analysts anticipate that Canadian Solar will post 0.06 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mackenzie Financial Corp increased its position in shares of Canadian Solar by 25.4% in the second quarter. Mackenzie Financial Corp now owns 5,115,665 shares of the solar energy provider’s stock valued at $75,456,000 after buying an additional 1,037,800 shares in the last quarter. State Street Corp raised its position in Canadian Solar by 5.6% during the third quarter. State Street Corp now owns 486,800 shares of the solar energy provider’s stock worth $8,159,000 after acquiring an additional 25,901 shares during the period. Cerity Partners LLC lifted its holdings in Canadian Solar by 131.5% during the third quarter. Cerity Partners LLC now owns 428,733 shares of the solar energy provider’s stock valued at $7,186,000 after purchasing an additional 243,542 shares in the last quarter. SIR Capital Management L.P. purchased a new position in Canadian Solar during the second quarter valued at $3,994,000. Finally, Foundry Partners LLC acquired a new stake in shares of Canadian Solar in the second quarter valued at about $3,667,000. Institutional investors and hedge funds own 52.36% of the company’s stock.

Canadian Solar Company Profile

Canadian Solar Inc, together with its subsidiaries, provides solar energy and battery energy storage products and solutions in in Asia, the Americas, Europe, and internationally. The company operates through two segments, CSI Solar and Recurrent Energy. The CSI Solar segment designs, develops, and manufactures solar ingots, wafers, cells, modules, and other solar power and battery storage products.