Published: Thu, March 23, 2017
Markets | By Terence Owen

Canadian Solar Inc. Bottom Line Drops 77% In Q4

Canadian Solar Inc. Bottom Line Drops 77% In Q4

In its outlook statement, the company said it expects first-quarter 2017 revenue in the range of $570 million to $590 million with gross margin of 13% to 15%.

Several other analysts have also recently issued reports on the company.

Canadian Solar said it is "vigorously contesting" the early results of the department's revised anti-dumping and other tariffs on Chinese-manufactured solar panels, which are "hugely different from the past rates imposed on the company". JMP Securities restated a "hold" rating on shares of Canadian Solar in a research note on Tuesday, November 22nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock.

"Canadian Solar (NASDAQ:CSIQ) reported net loss for the fourth quarter of $ 13.33 million or $ 0.23 per share, compared to income $ 62.30 million or $ 1.05 per share for the year-ago quarter". 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 firm has a market capitalization of $712.40 million, a PE ratio of 5.14 and a beta of 2.78.

Total solar module shipments set a record high at 1,612 MW, of which 1,581 MW were recognized in revenue, contrast 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. The stock has added about 17.4% since it reported its last earnings.

Canadian Solar reported full-year module shipments of 5,232MW in 2016, a new record for the company, compared to 4,706MW in 2015.

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For the Current Quarter, 9 analysts are projecting the mean EPS to be $0.29/share. In Q4, Canadian Solar restored two cell production lines with a total capacity of 240 MW at its Funing fab, which had been damaged by a tornado in June previous year. The Stock has YTD (year to date) performance of 1.23 percent.

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. For the period ending 2016-12-31, Canadian Solar Inc. Finally, Creative Planning increased its position in shares of Canadian Solar by 198.3% in the third quarter.

Since February of this year, no Canadian Solar modules made in China have been shipped to the USA; the company instead supplying the market via its Southeast Asia facility. Commerzbank Aktiengesellschaft FI now owns 91,918 shares of the company's stock valued at $1,120,000 after buying an additional 5,471 shares during the last quarter. Finally, Prescott Group Capital Management L.L.C. increased its stake in Canadian Solar by 12.6% in the third quarter.

Looking about the past performance history, the company plunged -9.20% in past week and declined -12.68% in one month. The Insider Ownership of the company now is 31 percent, and Institutional Ownership is 43.7 percent.

But still... even a company as large and broadly spread as Canadian Solar can not insulate itself fully from the effects of record-low module prices. The Company is a provider of solar power products, services and system solutions with operations in North America, South America, Europe, Africa, the Middle East, Australia and Asia.

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