Home / Eco-Finance / Solar Stocks Run Away From Street Interest; Analysts Says: SolarCity (NASDAQ:SCTY), Canadian Solar (NASDAQ:CSIQ), First Solar (NASDAQ:FSLR)

Solar Stocks Run Away From Street Interest; Analysts Says: SolarCity (NASDAQ:SCTY), Canadian Solar (NASDAQ:CSIQ), First Solar (NASDAQ:FSLR)

SolarCity Corporation (NASDAQ:SCTY) [Detail Analytic Report] moved down in pre trading session on Monday as it released that it will issue its Q1 2016 earnings report following market’s close on Monday, May 9, 2016. A conference call has been scheduled to discuss these results at 2:00 p.m. (Pacific Time). On the other side, SolarCity (NASDAQ:SCTY) along wth Tesla Motors (NASDAQ:TSLA) are natural partners, especially for the reason that Elon Musk happens to be main shareholder of both firm. However, there’s also another natural tie among companies: SolarCity’s effort to democratize energy production has a growing require for Tesla Motors’ ability to store energy.

Over previous three years, SolarCity has reached into a number of supply contract with Tesla Motors for energy storage systems, both in home and for businesses. By GTM Research’s estimates, Tesla Motors supplied SolarCity with 25.8 MWh of energy storage systems in 2015, or 36% of all behind-the-meter energy storage installed in U.S. “Behind the meter” basically just means utility doesn’t control the energy storage system, it’s on the customer’s side of meter.

Canadian Solar Inc. (NASDAQ:CSIQ) [Detail Analytic Report] recently declared that it has connected an additional six solar power plants that bringing its total fleet of solar power plants in commercial operation in the United Kingdom to approximately 103.0MWp. Chairman and CEO of Canadian Solar, Dr. Shawn Qu stated that they are very pleased to declared that their portfolio of operating solar power plants in the UK has now reached over 100MWp. They are remains committed to leveraging their industry-leading position and expertise in solar project development to meet the growing demand of clean solar energy in UK and around the world.

Noting a main crunch of analyst research by WSJ, CSIQ under observation of quarterly per share earnings, it has second quarter 2016 trend of $0.13, while in next quarter estimated EPS trend is $0.33 and for annual basis for 2016 estimated EPS is $1.87. Relatively pool of WSJ analyst issues diverse rating, as for current level it has 10 experts rated as “BUY” security, 1 analyst recommend as “Overweight,” and 1 experts rated as “Hold”.

First Solar, Inc. (NASDAQ:FSLR) [Detail Analytic Report] released its Q1 earnings and full-year outlook that beat even its own anticipations. The timing of project construction along with sales can often lead to lumpy results for First Solar, and that it will be no different in 2016. However, for full year, management still antipastos revenue of $3.8B to $4B, and now anticipates a 1% higher gross margin of 18% to 19%, lifting bottom end of EPS outlook by a dime to $4.10 to $4.50.

The final factor investors should like about First Solar is that the solar market looks primed for decades of growth. “We expect the stock to come under pressure on largely unchanged estimates and the unexpected management transition,” Michael Morosi, an analyst at Avondale Partners, said in a research note.

For current month, 0.96 analyst from pool recommended for an “overweight” rating, while 0.67 gave rating of “Buy” and 4.12 analysts suggest to “Hold” and 10 gave preference to “underweight,” according to research rating by WSJ. While alarming thing to be notice is price target, the average pool price target for FSLR has been mentioned as; 1 tends to high price target, medium level touched to 1, and 1 was assigned as lowest share price targets. To accommodate all of these, average analyst price target appeared by 0, where as the current price is 1, as per research conducted by WSJ.

About Blake Escott

Blake Escott holds junior writer position in SWR. Before joining Streetwise Report, he was a freelance content Writer. He has high-level copywriting experience and particularly experienced in proofreading and editing. He covers news about different companies including all US market sectors. Interests: Commodities, Energy stocks, Sector-wise Stocks analysis, Utilities

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