This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Why Canadian Solar (CSIQ) Stock Is Higher Today

Stocks in this article: CSIQ

NEW YORK (TheStreet) -- Shares of Canadian Solar Inc.  (CSIQ) are up 9.97% to $27.46 in pre-market trade after the Ontario-based solar power company swung to a profit in the second quarter as revenue and module shipments improved, the Wall Street Journal reports.

Solar-module shipments, earnings and revenue for the quarter beat the company's and Wall Street's expectations.

Canadian Solar said it had 646 megawatts in solar-module shipments in the second quarter, an increase of 29% from the prior quarter and 42% from the prior-year period. The company in May had forecast module shipments of 600 megawatts to 630 megawatts.

Must Read: Warren Buffett’s 25 Favorite Stocks

For the third quarter, the company said it expects module shipments to be between 720 megawatts and 750 megawatts, while forecasting gross margin of 19% to 21%.

Canadian Solar also targeted revenue of $760 million to $810 million for the quarter. Analysts polled by Thomson Reuters were expecting revenue of $784.8 million.

In the second quarter, the Americas accounted for 55.5% of sales, up from 37.8% in the prior-year period. Meanwhile, the Asia region accounted for 29.8%, down from 51.6%, and the European share of sales were up to 14.7%, from 10.6% a year earlier.

Canadian Solar posted earnings of $55.8 million, or 95 cents per share, compared with a year-earlier loss of $12.6 million, or 29 cents pera share. Revenue increased to 64% to $623.8 million.

Analysts polled by Thomson Reuters had estimated per-share earnings of 58 cents, while the company earlier projected revenue of $560 million to $590 million.

TheStreet Ratings team rates CANADIAN SOLAR INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

"We rate CANADIAN SOLAR INC (CSIQ) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk and poor profit margins."

You can view the full analysis from the report here: CSIQ Ratings Report

EXCLUSIVE OFFER: See inside Jim Cramer’s multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,063.61 +9.90 0.05%
S&P 500 2,092.58 +3.81 0.18%
NASDAQ 4,811.8050 +4.9460 0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs