Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Canadian Solar
So what: Shares are recovering from the solar sell-off we've seen the past few day on worries demand will be flat next year. Canadian Solar hasn't seen any fall-off yet, with revenue reaching $377.2 million and earnings per share of $0.47 beating Wall Street's expectation of $0.43.
Now what: This is another blowout earnings report from the solar sector this quarter, and Canadian Solar isn't seeing a slowdown. Gross margins, the biggest concern for analysts, hit 17.3% this quarter and are expected to improve next year to 18% to 19%. I'm buying today's bump and think the whole sector has sold off too far.
Interested in more info on Canadian Solar? Add it to your watchlist.
