NEW YORK (TheStreet) -- Shares of Canadian Solar (CSIQ) were falling 8.5% to $28.80 Wednesday after the solar module maker guided below analysts' estimates for the fourth quarter, and despite its positive third quarter.
Canadian Solar said it expects revenue of $925 million to $975 million for the fourth quarter, below analysts' estimates of $977.4 million for the quarter.
The company reported earnings of $1.75 a share for the third quarter, beating the $1.16 a share analysts surveyed by Thomson Reuters expected for the quarter. Revenue grew 86.3% year over year to $914.38 million in the quarter, beating analysts' estimates of $803.24 million.
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, notable return on equity and attractive valuation levels. 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