Under Analysts' Radar: Canadian Solar Inc (CSIQ)

Lloyd Doyle
May 18, 2018

However out of 7 analysts 1 suggest Canadian Solar Inc (NASDAQ:CSIQ) a Strong Buy, 2 suggested Buy, 3 Hold and 1 Sell, while 2 analysts recommend the stock a Strong Sell. The firm presently has a $19.00 price objective on the solar energy provider's stock. Canadian Solar has a consensus price target of $17.60, indicating a potential upside of 14.96%.

Canadian Solar said its operating expenses fell 29.9 percent to $65.7 million.

Canadian Solar (Ranked 3rd) in PV Tech's Top 10 Module Manufacturers list for 2017, has always been at or near the bottom of PV Tech's annual analysis of R&D spending since 2007.

Dr. Huifeng Chang, Senior Vice President and Chief Financial Officer of Canadian Solar commented, "We are encouraged by our success in monetizing our solar power plants globally".

Canadian Solar CEO Shawn Qu said: "We expect a shift in global demand to developing markets to offset China, India and the U.S. We also expect demand in other markets to improve, including Europe, Africa, Argentina and Mexico".


This is a breakdown of recent ratings and price targets for Hanwha Q Cells and Canadian Solar, as provided by MarketBeat.com. BidaskClub cut Canadian Solar from a "hold" rating to a "sell" rating in a research report on Tuesday, April 24th. Hanwha Q Cells is trading at a lower price-to-earnings ratio than Canadian Solar, indicating that it is now the more affordable of the two stocks. They noted that the move was a valuation call. In Thursday, February 1 report JP Morgan upgraded the stock to "Neutral" rating. "Buy" rating has 1, "Sell" are 3, while 4 are "Hold". (NASDAQ:CSIQ) to "Underweight" rating. ValuEngine lowered shares of Canadian Solar from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 2nd. The company has a market cap of $969.23 million, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 0.46 and a beta of 2.58. The consensus mean EPS for the current quarter is at $0.47 derived from a total of 6 estimates from the analysts who have weighed in on projected earnings.

Taking a broader look brokerage firms' analysts on the street with an expectant view have Canadian Solar Inc (NASDAQ:CSIQ) high price target of $24 and with a conservative view have low price target of $15.51.

Canadian Solar announced that its revenue reached $1.42 billion (+28.5 percent) with gross profit of $143.9 million in the first quarter of 2018. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. However the company reported $-0.23 earnings per share for the same quarter during past year. During the same period in the previous year, the company posted ($0.23) earnings per share. equities research analysts anticipate that Canadian Solar will post 1.4 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of CSIQ.

Macys, Inc (M) surged 10.1% or $3.03 to $32.96 after the department store operator reported net sales in the first-quarter ending in March jumped 3.6% from a year ago to $5.5 billion. Millennium Management LLC now owns 1,141,385 shares of the solar energy provider's stock valued at $19,244,000 after buying an additional 1,117,313 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Canadian Solar during the 4th quarter valued at approximately $1,940,000. HBK Investments L P bought a new stake in shares of Canadian Solar in the fourth quarter worth $282,000. The stock rating was maintained by Cowen & Co with "Hold" on Monday, December 11. The firm operates through two divisions, Module and Energy.9.83 is the P/E ratio.

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