BUZZ-Canadian Solar Inc: Q1 revenue forecast below analysts' estimate

Thu Mar 10, 2016 9:43am EST
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** Solar company's shares down 8 pct at $20.05

** Company forecasts Q1 revenue of $645 mln-$695 mln, well below average analyst estimate of $803.1 mln

** Canadian Solar forecasts Q1 module shipments of about 1,085-1,135 MW, lower than 1,430 MW shipped in Q4; company says 15 MW shipments may not be recognized in Q1 revenue

** "We believe the discrepancy on guidance is around the timing of project sales as the MW guidance is largely in line," Cowen and Co analysts write in note

** Q4 gross margins fall to 17.9 pct from 19.3 pct year earlier; Canadian Solar forecasts Q1 gross margins of 12-14 pct

** Up to Wednesday's close, stock had lost a quarter of its value this year