BidaskClub downgraded shares of Canadian Solar Inc. (NASDAQ:CSIQ) from a buy rating to a hold rating in a research note published on Saturday.

Other equities research analysts also recently issued research reports about the stock. Axiom Securities reissued a buy rating on shares of Canadian Solar in a research report on Saturday, July 22nd. ValuEngine downgraded shares of Canadian Solar from a buy rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research raised shares of Canadian Solar from a sell rating to a hold rating in a research report on Tuesday, August 8th. Cowen and Company set a $16.00 price objective on shares of Canadian Solar and gave the company a hold rating in a research report on Monday, August 14th. Finally, FBR & Co reissued a neutral rating and set a $15.00 price objective (up previously from $13.00) on shares of Canadian Solar in a research report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $17.21.

Canadian Solar (NASDAQ:CSIQ) opened at 14.99 on Friday. Canadian Solar has a one year low of $10.25 and a one year high of $18.12. The firm’s 50-day moving average price is $16.54 and its 200 day moving average price is $14.14. The company has a market capitalization of $868.63 million, a price-to-earnings ratio of 35.52 and a beta of 3.09.

Canadian Solar (NASDAQ:CSIQ) last issued its quarterly earnings data on Monday, August 14th. The solar energy provider reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Canadian Solar had a net margin of 1.01% and a return on equity of 1.71%. The firm had revenue of $692.37 million during the quarter, compared to the consensus estimate of $631.05 million. During the same quarter in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was down 14.1% compared to the same quarter last year. On average, equities research analysts expect that Canadian Solar will post $1.56 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pacad Investment Ltd. purchased a new position in shares of Canadian Solar during the second quarter valued at $115,000. Legal & General Group Plc increased its position in shares of Canadian Solar by 111.1% in the second quarter. Legal & General Group Plc now owns 7,789 shares of the solar energy provider’s stock valued at $124,000 after buying an additional 4,100 shares in the last quarter. Wedbush Securities Inc. purchased a new position in shares of Canadian Solar during the first quarter valued at $189,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Canadian Solar by 20.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 18,614 shares of the solar energy provider’s stock valued at $228,000 after buying an additional 3,100 shares in the last quarter. Finally, Columbus Circle Investors purchased a new position in shares of Canadian Solar during the second quarter valued at $318,000. 34.97% of the stock is 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.

Analyst Recommendations for Canadian Solar (NASDAQ:CSIQ)

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