Earnings

Stock to Watch for Earnings: Canadian Solar Inc. (NASDAQ:CSIQ)

Shares of Canadian Solar Inc. (NASDAQ:CSIQ) fell -9.00% to reach at $12.33 during previous trading session. The company has experienced volume of 5,431,279 shares while on average the company has a capacity of trading 1.23M share.

Canadian Solar Inc. (NASDAQ:CSIQ) one of the world’s largest solar power companies, on March 21, 2017 announced its financial results for the fourth quarter and full year ended December 31, 2016.

Fourth Quarter 2016:

  • Total solar module shipments set a record high at 1,612 MW, of which 1,581 MW were recognized in revenue, compared to 1,161 MW recognized in revenue in the third quarter of 2016, and fourth quarter 2016 guidance in the range of 1,400 MW to 1,500 MW.
  • Net revenue was $668.4 million, compared to $657.3 million in the third quarter of 2016, and fourth quarter 2016 guidance in the range of $600 million to $750 million.
  • Net revenue from the total solutions business as a percentage of total net revenue was 6.6% compared to 10.4% in the third quarter of 2016.
  • Gross margin was 7.3% including an anti-dumping and countervailing duties (AD/CVD) true-up provision of $44.1 million associated with the prior years’ module sales. If excluding this charge, the gross margin would be 13.9%, compared to 17.8% in the third quarter of 2016, and fourth quarter guidance in the range of 11.0% to 16.0%.
  • Net loss attributable to Canadian Solar was $13.3 million, or $0.23 per diluted share, compared to net income of $15.6 million, or $0.27 per diluted share, in the third quarter of 2016.

Full Year 2016:

  • Total solar module shipments set a record high at 5,232 MW in 2016, compared to 4,706 MW in 2015, with 5,204 MW recognized in revenue in 2016, compared to 4,384 MW recognized in revenue in 2015, and full year 2016 guidance in the range of 5,073 MW to 5,173 MW.
  • Net revenue was $2.85 billion, compared to $3.47 billion in 2015, and full year 2016 guidance in the range of $2.78 billion to $2.94 billion.
  • Net revenue from the total solutions business was 6.9% of total net revenue, compared to 30.9% in 2015.
  • Net income attributable to Canadian Solar was $65.2 million, or $1.12 per diluted share, compared to $171.9 million, or $2.93 per diluted share, in 2015.
  • Non-GAAP adjusted net income attributable to Canadian Solar, which is adjusted to exclude the AD/CVD true-up provision of $44.1 million, net of income tax effect, was $92.7 million, or $1.60 per diluted share.

Canadian Solar Inc. (NASDAQ:CSIQ) holds the market capitalization of $644.44M along with 55.97M outstanding shares. During the last trade, stock’s minimum price has been reached out at $12.05 while the maximum trading price moved at $13.23. Currently the stock price is moving -37.76% off from the highest level of twelve months and +21.76% above from twelve months low. Canadian Solar Inc. (NASDAQ:CSIQ) marked 52-week highest price level of $20.05 on 03/23/16 and 52-week lowest price level of $10.25 on 11/09/16. For the stock, price target value has been calculated at $15.21 based on calls of 9 experts. Stock’s minimum price target estimates has been figured out at $10.50 while the maximum price target forecast is established at $31.00.

As of current trade, Canadian Solar Inc. (NASDAQ:CSIQ) has shown weekly downbeat performance of -9.20%. Its six months performance indicated a bullish movement while its yearly performance reflected a negative trend of -38.75%. Year-to-date (YTD) performance of the stock illustrate upbeat trend of 1.23%. Shares of Canadian Solar Inc. (NASDAQ:CSIQ) currently have an ABR of 2.86, derived from a total of 9 opinions. The company’s price sits -5.26 % below from its 50-day moving average of $13.46 and -8.18% below from the stock’s 200-day moving average of $13.07. The company has Relative Strength Index (RSI 14) of 39.02 along with Average True Range (ATR 14) of 0.68. Its weekly and monthly volatility is 5.02%, 4.61% respectively. The company’s beta value is at 3.07.

Canadian Solar Inc. (NASDAQ:CSIQ)’s P/E ratio is 5.07. The company’s price to sales ratio for trailing twelve months is 0.21 and price to book ratio for most recent quarter is 0.77, whereas price to cash per share for the most recent quarter is 1.47. Canadian Solar Inc. (NASDAQ:CSIQ)’s quick ratio for most recent quarter is 1.00 along with current ratio for most recent quarter of 1.10. Total debt to equity ratio of the company for most recent quarter is 2.68 whereas long term debt to equity ratio for most recent quarter is 0.84. Canadian Solar Inc. (NASDAQ:CSIQ) has a Return on Assets of 2.90%. The company currently has a Return on Equity of 15.90% and Return on Investment of 6.20%.

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