Canadian Solar (CSIQ) is Downgraded by Barclays to Equal Weight, Lowers Price Target to $ 14

Canadian Solar (CSIQ) was Downgraded by Barclays to ” Equal Weight” while Lowering the Price Target of the company shares to $ 14 from a previous price target of $24 . Earlier the firm had a rating of “Overweight ” on the company shares. Barclays advised their investors in a research report released on Aug 24, 2016.

Many Wall Street Analysts have commented on Canadian Solar. Shares were Reiterated by FBR Capital on Aug 19, 2016 to “Outperform” and Lowered the Price Target to $ 23 from a previous price target of $32 .Shares were Downgraded by Morgan Stanley on Aug 3, 2016 to ” Underweight” and Lowered the Price Target to $ 12.80 from a previous price target of $24 .

On the company’s financial health, Canadian Solar reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.29 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $0.39. The company had revenue of $805.90 million for the quarter, compared to analysts expectations of $732.21 million. The company’s revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS.

Canadian Solar opened for trading at $13.43 and hit $13.59 on the upside on Tuesday, eventually ending the session at $13.46, with a gain of 0.67% or 0.09 points. The heightened volatility saw the trading volume jump to 16,55,060 shares. Company has a market cap of $753 M.

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.

Canadian Solar

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