Canadian Solar Reports Fourth Quarter and Full Year 2015 Results
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Roth Cuts PT on Canadian Solar (CSIQ) to $28; Strong Q4 Offset by Weak Outlook
March 11, 2016 2:42 PM ESTRotth Capital reaffirms Canadian Solar (Nasdaq: CSIQ) with a Buy rating, but cuts its price target from $40 down to $28 following the company's Q4 results and outlook issued on Thursday.
Analyst Philip Shen offered the following commentary: Heading into the quarter, street expectations for margins were 16-17% for 2016 (vs. ROTHe of 14.9%). The company likely spooked investors with its Q1 guide of 12-14%. A key driver of the lower margins is the companys inverted pyramid structure (400-MW of wafer, 2.7GW of cell, and 4.3GW of module)... More
Canadian Solar (CSIQ) Tops Q4 EPS Views; Guides Q1, FY16
March 10, 2016 7:16 AM ESTCanadian Solar (NASDAQ: CSIQ) reported Q4 EPS of $1.05, $0.29 better than the analyst estimate of $0.76. Revenue for the quarter came in at $1.12 billion versus the consensus estimate of $1.04 billion.
Total solar module shipments were a quarterly record high of 1,430 MW, of which 1,398 MW were recognized in revenue, compared to 1,150 MW recognized in revenue in the third quarter of 2015.
Guidance:
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 financing environment. It is... More
