Canadian Solar (CSIQ) was Reiterated by FBR Capital to “Outperform” while Lowering the Price Target of the company shares to $ 23 from a previous price target of $32 . FBR Capital advised their investors in a research report released on Aug 19, 2016.
Many Wall Street Analysts have commented on Canadian Solar. 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 closed down -0.87 points or -6.65% at $12.21 with 60,11,317 shares getting traded on Wednesday. Post opening the session at $12.9, the shares hit an intraday low of $12.12 and an intraday high of $13.08 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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.