Scalper1 News
Canadian Solar ( CSIQ ) stock continued a nine-day losing streak Tuesday — toppling amid a broad solar inferno — ahead of its Q1 report slated early Wednesday when analysts expect the panel-maker to report a fifth straight quarter of declining sales and earnings. Midday on the stock market today , Canadian Solar stock fell 2%, drawn down on SolarCity ( SCTY ) and Vivint Solar ‘s ( VSLR ) disappointing Q1 reports late Monday. SolarCity and Vivint Solar stocks fell 25% and 5%, respectively. Year-to-date, Canadian Solar stock is down 47%. For Q1, the consensus of 10 analysts polled by Thomson Reuters expects Canadian Solar to report $663.7 million in sales and 14 cents earnings per share minus items, down 23% and 87%, respectively, vs. the year-earlier quarter. Canadian Solar’s sales and EPS have declined for four straight quarters, on a year-over-year basis. Previously, Canadian Solar guided to $645 million to $695 million in Q1 sales, and 1.085 gigawatts to 1.135 GW in module shipments, which would be down 10% at the midpoint vs. the year-earlier quarter. The company also expects 15 megawatts in shipments to its utility-scale solar projects, but revenue from that may not be recognized in Q1. Scalper1 News
Scalper1 News