Canadian Solar (NASDAQ:CSIQ) Stock Rating Lowered by StockNews.com

Canadian Solar (NASDAQ:CSIQ) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Friday.

A number of other research analysts also recently weighed in on the company. Wells Fargo & Company cut their price target on Canadian Solar from $13.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Citigroup lowered Canadian Solar from a “neutral” rating to a “sell” rating and cut their target price for the company from $19.00 to $11.00 in a research note on Tuesday, October 22nd. The Goldman Sachs Group lowered Canadian Solar from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $14.00 to $11.00 in a research report on Tuesday, December 17th. Jefferies Financial Group assumed coverage on Canadian Solar in a research note on Friday, November 22nd. They issued a “buy” rating and a $14.15 price target for the company. Finally, Mizuho began coverage on shares of Canadian Solar in a research note on Friday, December 13th. They set an “outperform” rating and a $20.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Canadian Solar has a consensus rating of “Hold” and a consensus price target of $18.31.

Canadian Solar Trading Down 0.6 %

Shares of CSIQ stock traded down $0.07 on Friday, reaching $11.05. 1,467,541 shares of the stock were exchanged, compared to its average volume of 1,633,622. The stock has a 50 day moving average price of $11.96 and a 200 day moving average price of $13.60. The stock has a market cap of $731.07 million, a PE ratio of -92.08, a P/E/G ratio of 0.80 and a beta of 1.27. Canadian Solar has a one year low of $10.60 and a one year high of $25.43. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.06 and a quick ratio of 0.85.

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, topping the consensus estimate of ($0.44) by $0.13. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Canadian Solar had a return on equity of 0.02% and a net margin of 0.01%. The company’s quarterly revenue was down 18.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. Equities research analysts forecast that Canadian Solar will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Canadian Solar

Several institutional investors have recently added to or reduced their stakes in CSIQ. Rhumbline Advisers raised its stake in shares of Canadian Solar by 34.6% in the 2nd quarter. Rhumbline Advisers now owns 19,459 shares of the solar energy provider’s stock valued at $287,000 after purchasing an additional 5,003 shares during the period. American Century Companies Inc. raised its position in Canadian Solar by 8.0% in the 2nd quarter. American Century Companies Inc. now owns 18,716 shares of the solar energy provider’s stock valued at $276,000 after buying an additional 1,383 shares during the last quarter. DRW Securities LLC lifted its stake in Canadian Solar by 36.0% in the 2nd quarter. DRW Securities LLC now owns 68,000 shares of the solar energy provider’s stock valued at $1,003,000 after acquiring an additional 18,000 shares in the last quarter. Marshall Wace LLP boosted its position in Canadian Solar by 26.3% during the 2nd quarter. Marshall Wace LLP now owns 60,143 shares of the solar energy provider’s stock worth $887,000 after acquiring an additional 12,513 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Canadian Solar by 25.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,115,665 shares of the solar energy provider’s stock worth $75,456,000 after acquiring an additional 1,037,800 shares in the last quarter. 52.36% of the stock is owned by institutional investors.

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.