Revenue Update on Canadian Solar(NASDAQ:CSIQ)

Canadian Solar(NASDAQ:CSIQ) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Mar 21, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $668.428M. Analysts estimated a revenue of $690.270M. The revenues were -3.16% below the estimates. Earnings per share were $0.24. The reported EPS was below estimates by -25%. Analysts had estimated an EPS of $0.32.

In a different note, On Feb 22, 2017, JP Morgan said it Downgrades its rating on Canadian Solar. The shares have been rated ‘Neutral’ by the firm. On Feb 22, 2017, JP Morgan said it Downgrades its rating on Canadian Solar. The shares have been rated ‘Neutral’ by the firm.

Canadian Solar (CSIQ) shares turned negative on Fridays trading session with the shares closing down -0.485 points or -4.17% at a volume of 31,43,114. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $11.68. The peak price level was also seen at $11.68 while the days lowest was $11.0936. Finally the shares closed at $11.15. The 52-week high of the shares is $19.9199 while the 52-week low is $10.25. According to the latest information available, the market cap of the company is $640 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.

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