Roth Capital Cuts PT on Canadian Solar (CSIQ) to $11 Following Q3 Results, Outlook
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FBR Capital Downgrades Canadian Solar (CSIQ) to Market Perform; Sees Weaker Margins
November 22, 2016 6:23 AM ESTFBR Capital downgraded Canadian Solar (NASDAQ: CSIQ) from Outperform to Market Perform with a price target of $12.00 (from $23.00), saying manufacturing issues and timing on project sales to clip margins.
Analyst Carter Driscoll commented, "CSIQ delivered a decent 3Q16 despite a weak solar market. However, not surprisingly, CSIQ lowered 2016 guidance on higher-than-expected pricing pressure. Surprisingly,... More
Canadian Solar (CSIQ) volatility elevated into Q3 and outlook
November 21, 2016 9:28 AM ESTCanadian Solar (NASDAQ: CSIQ) November weekly call option implied volatility is at 107, January is at 65; compared to its 52-week range of 48 to 102 into Q3.
... MoreCanadian 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