Canadian Solar (CSIQ) reported quarterly earnings results on Wednesday, May-11-2016. The company said it had a profit of $0.39 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.21. Analysts had a consensus of $0.18. The company posted revenue of $721.40 million in the period, compared to analysts expectations of $662.89 million. The company’s revenue was down -16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 EPS.
Many Wall Street Analysts have commented on Canadian Solar. Barclays Initiated Canadian Solar on Apr 4, 2016 to “Overweight”, Price Target of the shares are set at $24.Canadian Solar was Initiated by Northland Capital to “Outperform” on Mar 16, 2016. Shares were Reiterated by Stifel on Mar 11, 2016 to “Buy” and Lowered the Price Target to $ 28 from a previous price target of $31 .
Canadian Solar (CSIQ) witnessed a volatile trading activity on Tuesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $15.1 and reached the intraday high at $15.62. The bulls started the profit booking and pushed the shares to intraday low of $15.02. The trading session was marked by a volume range of 35,45,570 shares exchanging hands. The 52-week high of the shares is $40.08 and the 52-week low is $14.16. The market cap of the company stands at $865 M and there are 5,59,65,443 shares in public circulation.
Canadian Solar Inc. is a solar power company which designs develops and manufactures solar wafers solar cells and solar power products. The Company’s solar power products include standard solar modules and specialty solar products. It has two segments: module segment and energy segment. The Company’s module segment primarily involves design development manufacture and sales of solar power products and solar system kits. The Company’s energy segment involves solar power project development engineering procurement and construction services operations and maintenance services and electricity revenue generation. Its products include a range of solar modules for use in residential commercial and industrial solar power generation systems. Its specialty solar products consist of solar modules that the customers incorporate into their own products and complete specialty products such as portable solar home systems. The Company sells its products under Canadian Solar brand name.