This Day On The Street
Continue to site
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

Why Canadian Solar (CSIQ) Stock Is Higher Today

NEW YORK (TheStreet) -- Shares of Canadian Solar Inc. (CSIQ - Get Report) 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.

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%.

Must Read: Warren Buffett’s 25 Favorite Stocks

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

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CSIQ $22.50 0.00%
AAPL $117.81 0.00%
FB $105.45 0.00%
GOOG $750.26 0.00%
TSLA $231.61 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs