Why Shares of Canadian Solar Inc. Plunged 12% Today
Shares of solar manufacturer Canadian Solar Inc. (NASDAQ: CSIQ) fell as much as 11.5% in trading Thursday after the company reported earnings that fell well short of estimates. At 2:30 p.m. EST, shares were still down 10.7% on the day.
Revenue of $912.2 million was well ahead of $692.4 million for the second quarter of 2017 and an estimate of $818.7 million from analysts. But net of $13.3 million, or $0.22 per share, was four cents below estimates, which shouldn't happen given the huge revenue beat.
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Source: Fool.com
Canadian Solar Inc. Stock
€16.38
-0.180%
Our community is currently high on Canadian Solar Inc. with 10 Buy predictions and 4 Sell predictions.
Based on the current price of 16.38 € the target price of 44 € shows a potential of 168.7% for Canadian Solar Inc. which would more than double the current price.
