Canadian Solar (CSIQ) Stock Falls on Light Guidance

The stock had a rating of 1 when analyst ratings were averaged three months ago. Canadian Solar has a one year low of $18.68 and a one year high of $41.12. On the date of report, the stock closed at $33.92.

CSIQ has been the topic of a number of other reports. The stock has dropped below over a 1-month trading range and has set a 6-month low. Roth Capital upped their target price on Canadian Solar to $46.00 in a research report on Tuesday, May 19th.

Out of 7 brokers covering Canadian Solar, 9 rate it a Buy, 0 indicate a Hold while 0 suggest a Sell. Finally, FBR & Co. restated an “outperform” rating and set a $45.00 target price on shares of Canadian Solar in a research report on Monday, June 1st. With a return potential of 131%, the stock’s consensus target price stands at $46. The company has a market cap of $1.35B and a P/E ratio of 4.93. The 50-day moving average is $10 and the 200 day moving average is recorded at $11.39.

(NASDAQ:CSIQ) is scheduled to release its 2015 second quarter earnings results after the market close on Tuesday afternoon. Solar module shipments recognized in revenue in the second quarter of 2015 included 90 MW used in the Company’s downstream business, compared to 124 MW in the first quarter of 2015 and 49 MW in the second quarter of 2014.

Revenue rose 2.1 percent to $637-million (U.S.) from $624-million in the year-earlier quarter, but would have been dramatically higher if the firm had not held on to assets it would have sold in the past. Earnings per share were $0.29.

There are currently seven analysts that cover Canadian Solar Inc stock.

While it still intends to go ahead with the creation of a separate entity that would own its completed solar projects, chief financial officer Michael Potter said Canadian Solar is also developing “alternative plans”. “We continue to have a distinct competitive advantage as an integrated solar power company and are in an excellent position to extend our Tier I global brand, as we work to deliver value for our shareholders”.

John Cook, president of Toronto-based clean-tech investor Greenchip Financial Corp., said he thinks part of the reason for the broadly based slippage in solar stocks is a “misunderstanding” of the link between oil prices and renewable energy. The Business’s module segment principally involves development, design, production and sales of solar system kits and solar power products. Its products include a wide selection of solar modules for use in industrial, commercial and residential solar power generation systems. Its specialty solar products consist of solar modules that the customers integrate into their very own products and total specialty products, for example solar house systems that are portable.

The CEO of Canadian Solar, Shawn Qu, believes that the company is continuously gaining momentum, while approaching different partners to help its development projects in Japan, United Kingdom, Canada, and US.