NEW YORK (TheStreet) -- Canadian Solar (CSIQ) stock is lower Friday after the alternative energy company reported first-quarter earnings below analysts' estimates and second-quarter revenue guidance lower than consensus. By market open, shares had tumbled 8.9% to $23.06.
Over the three months to March, the company earned 7 cents a share, a nickel lower than analysts surveyed by Thomson Reuters forecast.
Second-quarter revenue guidance between $560 million and $590 million, below expectations of $633.64 million.
Must read: Warren Buffett's 10 Favorite Growth StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. TheStreet Ratings team rates CANADIAN SOLAR INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation: "We rate CANADIAN SOLAR INC (CSIQ) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and poor profit margins."
- You can view the full analysis from the report here: CSIQ Ratings Report
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