FBR Capital Downgrades Canadian Solar (CSIQ) to Market Perform; Sees Weaker Margins
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Roth Capital Cuts PT on Canadian Solar (CSIQ) to $11 Following Q3 Results, Outlook
November 22, 2016 6:53 AM ESTRoth Capital cuts its price target on Neutral-rated Canadian Solar (Nasdaq: CSIQ) from $20 down to $11 following Q3 results and weak guidance on Monday morning.
The firm commented, In our module vendor coverage universe, CSIQ was our last stock with a Buy rating. We had maintained the rating... More
Canadian Solar (CSIQ) Reports In-Line Q3 EPS; Sees Q4 Shipments Up Sequentially
November 21, 2016 6:04 AM ESTCanadian Solar (NASDAQ: CSIQ) reported Q3 EPS of $0.27, in-line with the analyst estimate of $0.27. Revenue for the quarter came in at $657.3 million versus the consensus estimate of $685.28 million.
Total solar module shipments were 1,185 MW, of which 1,161 MW was recognized in revenue, compared to 1,290 MW recognized in revenue in the second quarter of 2016, and third quarter guidance in the range of 1,200 MW to 1,300 MW.
Business Outlook
The Company's business outlook is based on management's current views and estimates with respect to operating and market conditions, its current order book and the global... More
