Canadian Solar, Inc. (CSIQ) Posts Q1 Loss
"
Canadian Solar, Inc. (NASDAQ: CSIQ) reported Q1 EPS of ($0.10), $0.68 better than the analyst estimate of ($0.78). Revenue for the quarter came in at $263.6 million versus the consensus estimate of $221 million.
Solar module shipments were 340 MW, compared to 404 MW in the fourth quarter of 2012.
For the second quarter of 2013, module shipments are expected to be in the range of approximately 380 MW to 420 MW. Gross margin for the quarter is expected to be between 9% and 11%.
For the full year 2013, the Company expects module shipments to be in the range of approximately 1.6 GW to 1.8 GW."
CSIQ is up 17 % for today.
Labels: Canadian Solar Inc., CSIQ, Earnings, Solar Stocks, Solar Technology, solarstocks
Solar Stocks Surge like it's 2007
All solar stocks are up today with heavy gains across the board.
From upgrades to decent earning results, Solar Stocks had a very Bullish week remembering the good old times of 2007 before the Solar Tech downfall.
SPWR +9.18%
CSIQ +6.81%
FSLR +6.40%
STP +14.40%
SCTY +11.01%
SolarCity has been on the media radars quite often and the trend seems very steady:
Labels: Bullish, CSIQ, First Solar Inc, FSLR, SCTY, Solar Stocks, SolarCity Corp, SPWR, STP
Top 10 Fastest-Growing Solar Stocks
Below are the top 10 fastest-growing Solar stocks, based on the average long-term earnings growth rate estimated by Wall Street analysts.
Real Goods Solar, Inc. (NASDAQ:RSOL) is the 1st fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 40.0%. This number is based on the average estimate of 2 brokerage analyst(s).
Canadian Solar Inc. (NASDAQ:CSIQ) is the 2nd fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 35.5%. This number is based on the average estimate of 4 brokerage analyst(s).
ReneSola Ltd. (ADR) (NYSE:SOL) is the 3rd fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 29.0%. This number is based on the average estimate of 2 brokerage analyst(s). SunPower Corporation (NASDAQ:SPWRA) is the 4th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 28.5%. This number is based on the average estimate of 6 brokerage analyst(s).
Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) is the 5th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 25.0%. This number is based on the average estimate of 4 brokerage analyst(s).
Trina Solar Limited (ADR) (NYSE:TSL) is the 6th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 24.0%. This number is based on the average estimate of 5 brokerage analyst(s).
Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) is the 7th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 23.8%. This number is based on the average estimate of 8 brokerage analyst(s).
First Solar, Inc. (NASDAQ:FSLR) is the 8th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 22.8%. This number is based on the average estimate of 8 brokerage analyst(s).
Evergreen Solar, Inc. (NASDAQ:ESLR) is the 9th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 22.5%. This number is based on the average estimate of 2 brokerage analyst(s).
JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) is the 10th fastest-growing stock in this segment of the market. Its long-term annual EPS growth is expected to be 20.0%. This number is based on the average estimate of 3 brokerage analyst(s).
Source:
China AnalystLabels: CSIQ, ESLR, FSLR, JASO, RSOL, SOL, Solar Stocks, SPWRA, STP, TSL, YGE
Canadian Solar Updates 1Q10 Performance
The maker of technology to be used in solar panels has revealed that the SEC has begun an investigation surrounding certain sales transactions in 2009, which may have continuing legal effects moving forward.
CSIQ is down -16% for the day.
Canadian Solar Inc. (the "Company," "we" or "Canadian Solar") (Nasdaq: CSIQ), one of the world's largest solar companies, today updated its 1Q 2010 performance and guidance for 2Q 2010 and the second half of 2010. The Company has postponed the release of its full financial results for the first quarter ended March 31, 2010 and its quarterly conference call, scheduled for June 2, as a result of the commencement of an investigation by the Audit Committee of the Company's Board of Directors. While the investigation is ongoing, the Company is updating preliminary first quarter operating results.
...
-- We have implemented a more robust foreign currency hedging plan,
raising our hedging level to more than 90% of our expected Q2 cash flow.
We are now hedging well into Q3.
-- We are on track to expand our internal cell capacity from the current
420MW to 700MW.
-- We intend to commence ramping up our new cell lines on July 1st and
complete the ramping up process in September;
-- We have successfully revamped our ingot and wafer plant and expect it
to contribute positively to our P&L in 2Q10;
-- We will take advantage of our global market profile and increase sales
in non-Euro currencies.
Operations Update
-- Conversion Efficiency: We began commercial manufacturing of enhanced
selective emitter ("ESE") modules in March 2010. We have shipped over
3.0 MW of ESE modules to date. Conversion efficiencies have approached
18% in initial production runs. We expect to increase our ESE cell
production capacity to 120 MW by the end of the third quarter.
-- Module Capacity: We increased our module production capacity from 820
MW at the end of 2009 to 1.3 GW at the end of May 2010.
-- Cell Capacity: We currently have 420 MW of internal solar cell
production capacity. We expect to reach 700 MW of internal solar cell
production capacity by September 2010.
-- Ingot and Wafer Capacity: Our internal ingot and wafer operation
stopped incurring losses in 1Q10. The furnaces have been repaired and
the plant is expected to contribute to our margins in 2Q10. We expect
to produce approximately 30 MW to 35 MW of wafers internally in 2Q10.
-- Ratio of Internal Cell Production: In 1Q10 we manufactured
approximately 50% of the cells we used in the quarter internally. In
2Q10 we expect to produce approximately 110 MW of cells internally
representing approximately 60% of our 2Q10 shipments. By 4Q10 we
expect to produce approximately 165 MW of cells internally,
representing approximately 70% of our expected 4Q10 shipments.
SourceLabels: Canadian Solar Inc., CSIQ, Solar Stocks
The State of the TAN
More Bearish moves for the solar stocks with TSL, CSIQ, YGE and STP losing more than 5% for the day.
Claymore/MAC Global Solar Index (Solar Stock ETF) is making new lows. Maybe this is the time to start buying?
Labels: Bearish, CSIQ, solar ETF, Solar Stocks, STP, TAN, TSL, YGE
Solar Stocks Plunge
Chinese stocks fell hard on Thursday trailing Asian indices lower. Large cap stocks hold on better than smaller counterparts; the Claymore/AlphaShares Small Cap China ETF (NYSE:HAO) lost three times as much as the large cap proxy, FXI.
Energy, solar stocks weight down indices on stronger dollar and falling oil. Solar stocks dominate the worst performing China ADR universe by noon on Thursday. Suntech Power (NYSE:STP), Solarfun Power (NYSE:SOLF), Canadian Solar (NASDAQ:CSIQ), Yaingli Green Energy (NYSE:YGE) and Trina Solar (NYSE:TSL) make up the worst stocks measured in percentage change on the following screen.
Solar stocks continue the plunge with many Solar Companies dropping more than 10% just for this day.
The Solar Stock ETF quotes: 7.22 -0.54 (-6.96%)
Labels: Bearish, CSIQ, Solar Stocks, SOLF, STP, TSL, YGE
Wells Fargo covering Solar Stocks
An analyst at Wells Fargo initiated coverage on a group of stocks in the Solar space earlier today:
ReneSola (NYSE: SOL) with an Outperform rating and a $9.50-$12 valuation range. Calls ReneSola a "big beneficiary of 2010 demand trends," mainly wafer pricing, margins and protection from its OEM segment if the market turns lower. Shares of ReneSola are down more than 5% today, last trading around $7.06.
Solarfun (Nasdaq: SOLF) with an Outperform rating and a $10-$12.50 valuation range. The firm notes that the company has been historically unappreciated, however, "with a new management team and an improving cost structure, we believe SOLF is leaving the penalty box." Wells Fargo argues that Solarfun has "one of the best risk-reward profiles in the group..." The firm expects Solarfun to report FY10 EPS of $0.92. Solarfun shares are one of the few solar stocks holding onto positive territory today, last trading up 0.5% to $8.39.
Yingli Green Energy (NYSE: YGE) with a Market Perform rating and a $11.50-$14.50 valuation range. The firm said it would like to be more positive on Yingli given that the company boasts a "industry-leading cost structure," however, the FY10 outlook looks to be "already among the most optimistic in the group..." Wells Fargo also believes that the recent polysilicon plant adds risk and that the balance sheet needs cleaning-up. The firm is currently looking for Yingli to report FY10 EPS of $0.94. Shares of Yingli are down 3.1% to $11.87.
Canadian Solar (Nasdaq: CSIQ) with a Market Perform rating and a $18-$23 valuation range. Wells Fargo says exchange rate headwinds and firmer input pricing could be issues for Canadian Solar in the first half of this year. "While H2 comparisons and earnings improvement are pluses, revenue growth and margin structure remain in flux, forcing the company to choose between market share and profits." The firm is looking for Canadian Solar to report FY10 EPS of $1.34. CSIQ shares are up 0.3% to $16.90 today.
Suntech (NYSE: STP) with a Market Perform rating and a $11-$14 valuation range. Wells says "Suntech has one of the best brands in the industry, but we believe the company needs to revamp its cost structure and improve corporate governance, notably its relationship with Global Solar Fund (GSF); Suntech has a high ownership stake in this entity but does not consolidate results. Valuation of 17x 2010E EPS vs. the peer group near 15x leaves little room for stock appreciation, in our view." Shares of Suntech are down 3.2% to $12.62 today.
Source: streetinsider.com
Labels: CSIQ, SOL, solar analysis, Solar Stocks, SOLF, STP, YGE
Barclays Bullish On Solar
Barclays Raises Price Targets On SOLF, FSLR, SOL, CSIQ, TSL, YGEMost Solar Stocks closed higher today, thanks to the Barclays upgrade, with some solar stocks like SOLF, CSIQ or JASO finishing the day up, more than 8%
First Solar (FSLR) from $100 to $125
ReneSola (SOL) from $5 to $7
Canadian Solar (CSIQ) from $21 to $25
Trina Solar (TSL) from $23 to $25
Yingli Green Energy (YGE) from $10 to $14
All of these are maintained at Equalweight by Barclays.
Labels: Bullish, CSIQ, First Solar Inc, FSLR, JA Solar Holdings Co., JASO, Solar Stocks, Solarfun, SOLF, TSL
Earnings Release Dates
Expected next earnings release:
First Solar, Inc. (FSLR)
2/24/2010 - After Market
Q4 2009
Canadian Solar Inc. (CSIQ)
Mar 3, 2010
Q4 2009 Earnings Conference Call - 8:00AM E
Suntech Power Holdings Co., Ltd. (STP)
Mar 4, 2010
Q4 2009 Suntech Power Holdings Earnings Conference Call - 8:00AM EST
Labels: Canadian Solar Inc., CSIQ, Earnings, First Solar Inc, FSLR, Solar Stocks, STP, Suntech Power
Suntech solar panels sold out in early 2010
Supply seems not enough to fill all Suntech's Solar Panels demand,
and prices always rise on those conditions:
- Fully booked on panels through second quarter
- Company sees panel prices stable in Q1
- Expects panel prices to fall in second half of year
Suntech Power Holdings Co Ltd's (STP.N) solar panel is sold out through at least the second quarter of 2010, a company executive said on Tuesday.
"We were basically in a sold-out situation in Q4 and we're in a sold-out situation at least through Q2," Steve Chadima, vice president of external affairs at Suntech, said at a conference hosted by Needham and Co in New York.
"We're basically selling anything we can produce and I know we're not alone," Chadima said.
Demand for solar power products has rebounded after a difficult 2009, when the global credit crisis dried up financing for new projects and panel prices plummeted.
Chinese players such as Suntech, Trina Solar Ltd (TSL.N) and Canadian Solar Inc (CSIQ.O) have seized on rising demand, turning their low-cost structures into sales, and several plan to boost production capacity in 2010.
Labels: Canadian Solar Inc., China, CSIQ, STP, Suntech Power, Trina Solar, TSL
China ADRS
Some comments on JASO Solar, Canadian Solar, and others on chinavestor.com
We have been bullish on Simcere Pharma (NYDSE:SCR) as late as Friday saying that " because a strong market day is likely to help SCR to keep going on Friday." But SCR is getting overbought and is ready to take a breather on Monday, according to the overbought indicator below. Stocks that look good are those with a strong but not an excessive gains - such as China Sky One Medical Inc. (NASDAQ:CSKI) and Vision China Media (NASDAQ:VISN). Chinese solar stocks have been strong lately with some of them on fire. JA Solar (NASDAQ:JASO) has been strong but looks to have more upside left, just as is for Canadian Solar 9NASDAQ:CSIQ) and Suntech Power (NASDAQ:CSUN). LDK Solar (NYSE:LDK) lost 20% in the last two trading sessions on news that the company is selling equity to raise cash, but that sudden drop makes a case for a possible comeback. Solar companies reported strong Q3 numbers with sweetened Q4 outlook. That should help LDK Solar in the near term and regain most of those losses by mid. January.
SourceLabels: CSIQ, CSUN, JASO, LDK, Solar Stocks
Solar Stock ETF
Solar Stock ETF TAN seems to be gaining strength, now at the bottom of the trend channel and already gaining some ground.
If the solar sector starts a new short-term rally, this stock might be the best choice if you want to remove the risk of investing in a single solar stock.
Just remember that next week we're going to see more solar stock results with Canadian Solar (CSIQ) releasing earnings on the 17th November, and Suntech Power (STP) on 19 November.
Labels: Canadian Solar Inc., CSIQ, solar ETF, Solar Stocks, STP, Suntech Power, TAN
Solar Stocks Gapping Up
Some solar stocks gapping more than 1% for today's opening:
CSIQ 2.5%
FSLR 2.0%
STP 2.0%
Commodity prices are up and the solar sector follows.
Crude Oil and Polysilicon prices can go up until the end of this year, and pulling the whole solars along.
The chart looks overbought in the short-term but the Bulls keep pushing up:
Labels: Canadian Solar Inc., CSIQ, First Solar Inc, FSLR, solar charts, solar ETF, Solar Stocks, STP, Suntech Power, TAN
SolarFun Power Holdings
Solarfun Power Holdings Co., Ltd. (ADR) (Public, NASDAQ:SOLF) is gapping up today, around 5%, with the following news:
Solarfun Power Holdings Co., Ltd. ("Solarfun" or "the Company"), a vertically integrated manufacturer of silicon ingots and photovoltaic (PV) cells and modules in China, today announced that Jiangsu Linyang Solarfun Co., Ltd., a wholly owned subsidiary of Solarfun, has signed a letter of intent with the government of Hohhot City, the capital city of the Inner Mongolia Autonomous Region in China, to develop two solar projects with an aggregate capacity of 600MW. In support of these two projects, Solarfun also intends to construct a 100MW PV module production facility.
SourceActually most of the solar stocks traded in the US are gapping right now, so it should be an interesting opening today.
Keeping my eyes on the usual stocks: STP, FSLR, CSIQ, SPWRA
Labels: CSIQ, FSLR, Solar News, Solar Stocks, Solarfun, SOLF, SPWRA, STP
Chinese Solar Stocks Slide After China 'Crash'
Market moves south, and Solar Stocks follow:
Shares of China-based solar stocks are down across the board today after the Shanghai stock market fell 6.7% overnight on fears that the country’s economic growth could slow due to a slowdown in lending growth. Acording to Bloomberg, former Morgan Stanley Asian economist Andy Xie said the China market could drop another 25%, on top of a 22% slide in August.
Among the China-based solar names:
JA Solar (JASO) is down 14 cents, or 3.9%, to $3.48.
LDK Solar (LDK) is down 32 cents, or 3.5%, to $8.92.
China Sunergy (CSUN) is down 29 cents, or 6.3%, to $4.29.
Suntech (STP) is down 78 cents, or 5.2%, to $14.27.
Canadian Solar (CSIQ) is down 60 cents, or 4%, to $14.59.
Yingli Green Energy (YGE) is down 46 cents, or 4.2%, to $10.56.
ReneSola (SOL) is down 9 cents, or 1.6%, to $5.64.
Labels: Bearish, China, CSIQ, CSUN, JASO, LDK, Solar Stocks, STP
Solar Stocks ETF
Solar Stocks ETF TAN (Claymore/MAC Global Solar Index) seems to be pointing for a downswing in the short term. The markets seem to be strong enough to stop the bears from making a big move downward, but this 'Solar Index' keeps pointing down.
Today's Opening could continue de down movement, with the US Futures in the red, a couple of hours before the opening.
The TAN Chart look's like this:
Meanwhile Canadian Solar Inc. (CSIQ) released it's earnings schedule:
Canadian Solar Schedules 2Q09 Results Conference Call Canadian Solar Inc. (Nasdaq: CSIQ) today announced that it will hold a conference call to discuss the Company's financial results for the second quarter ended June 30, 2009 and business outlook.
The dial-in number for the live audio call, which will begin on Thursday, August 6, 2009 at 8:00 a.m. U.S. Eastern Time (8:00 p.m. August 6, 2009 in Hong Kong), is +1-617-847-8712. The conference call passcode is 63818298. A live webcast of the conference call will also be available on Canadian Solar's website at http://www.canadian-solar.com .
A replay of the call will be available approximately one hour after the conclusion of the live call through 12:00 p.m. on August 13, 2009, U.S. Eastern Time (12:00 a.m., August 14, 2009 in Hong Kong) by telephone at +1-617-801-6888. To access the replay, use passcode 52551852. A webcast replay will also be available at http://www.canadian-solar.com .
Labels: Canadian Solar Inc., Charts, CSIQ, Earnings, solar charts, solar ETF, Solar News, Solar Stocks, TAN
TAN Solar Stock ETF Taking a break
After the rally of these last days, solar stocks remain in neutral ground, some gaining, some loosing, taking a break from the latest rallys.
Canadian Solar Inc. (CSIQ) is the top performer this week thanks to the rising estimates for the company's results.
Solar Stocks ETF TAN seems to be taking a little break from the latest Bullish run, still not enough to reverse the downtrend since June.
TAN still needs to show a lot more strength if the trend is to be reversed.
Labels: Canadian Solar Inc., CSIQ, solar ETF, Solar Stocks, TAN
Solar Stocks getting Bullish
Solar Stocks are getting Bullish on the short term again.
With the recent good earnings from Intel, the Market seems to be ready for an upswing for the next week.
First Solar, Solar Stocks getting Bullish and the TAN Solar Stock ETF seem to be picking up.
Short Term Traders should start buying at these prices, but don't forget the stops!
First Solar, Inc. (FSLR)
Claymore/MAC Global Solar Energy (TAN)
More updates later today...
Labels: Canadian Solar Inc., Claymore, CSIQ, First Solar Inc, FSLR, Global Solar Energy, Global Solar Index, MAC, solar charts, solar ETF, Solar Stocks, TAN
Oil drops, Solar Stocks Follow
With Crude Oil on its 3rd consecutive day drop, Solar Stocks keep following the Commodity, losing from -5% to -10% on most Solar Stocks.
Some examples for today:
Energy Conversion Devices, Inc. (ENER) -8%
First Solar, Inc. (FSLR) -5%
Suntech Power Holdings Co., Ltd. (STP) -9%
Canadian Solar Inc. (CSIQ) -10%
The Solar Stock ETF of reference, Claymore/MAC Global Solar Index , is down almost 7%
Keep away from Solar Stocks for a couple of days, we might get some opportunities by the end of the week. If your Short, keep those profits running.
Labels: Bearish, Canadian Solar Inc., CSIQ, ENER, First Solar Inc, FSLR, solar ETF, Solar Stocks, STP, Suntech Power, TAN
Solar Stocks Gapping on Pre-Market
Most Solar Stocks are gapping up today on the Pre-Market.
Except the possible start of an upswing short-term rally, with the ETF TAN up 2% on Pre-Market, and other titles such as STP and CSIQ going up almost 3%, 30 minutes before market open.
The Claymore/MAC Global Solar Index (Solar Stock ETF) Chart looks like this:
And some news, regarding the Solar Industry and Oil price correlation:
Solar Players Looking Again Like Leveraged Oil Trades (FSLR, STP, SPWRA, LDK, ENER, TAN, PBW, CSIQ)Investing in solar and alternative energy stocks comes with many risks. We have often referred to many of these companies as being essentially nothing more than very leveraged speculative oil investments because when energy prices are low most forms of alternative energy are not competitive on a cost structure. The drop of $2.62 per barrel to $66.93 in NYMEX WTI Crude is causing havoc in some of the mid-cap and speculative oils stocks. It is also hitting shares of First Solar, Inc. (NASDAQ: FSLR), Suntech Power Holdings Co. Ltd. (NYSE: STP), SunPower Corporation (NASDAQ: SPWRA), LDK Solar Co.Ltd. (NYSE: LDK), and Energy Conversion Devices, Inc. (NASDAQ: ENER). This is also seen directly in the ETFs of Claymore/MAC Global Solar Energy (NYSE: TAN) and PowerShares WilderHill Clean Energy (NYSE: PBW). Speculative stocks like Canadian Solar Inc. (NASDAQ: CSIQ) look even worse.
Labels: Canadian Solar Inc., Claymore, Crude Oil, CSIQ, FSLR, LDK, PBW, solar ETF, Solar Stocks, Solar Stocks Performance, SPWRA, STP, Suntech Power, TAN
