Canadian Solar Reports Third Quarter 2016 Results
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Go back to Canadian Solar Reports Third Quarter 2016 Results
November 22, 2016 6:53 AM EST
Roth 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
November 22, 2016 6:23 AM EST
FBR 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
November 21, 2016 6:04 AM EST
Canadian 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
