JinkoSolar Holding Co., Ltd. (NYSE:JKS) Receives Average Rating of “Reduce” from Analysts

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has received a consensus recommendation of “Reduce” from the six research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $27.19.

JKS has been the subject of a number of recent research reports. UBS Group cut their target price on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Thursday, March 27th. The Goldman Sachs Group cut their price objective on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Thursday, March 27th. Glj Research reduced their target price on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research note on Thursday, January 23rd. Finally, Daiwa Capital Markets cut shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th.

Institutional Investors Weigh In On JinkoSolar

Institutional investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co purchased a new position in shares of JinkoSolar during the 4th quarter worth approximately $55,000. Barclays PLC boosted its position in shares of JinkoSolar by 30.2% during the third quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after buying an additional 537 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of JinkoSolar in the fourth quarter valued at $119,000. New York State Common Retirement Fund purchased a new stake in shares of JinkoSolar in the 4th quarter valued at $132,000. Finally, Jump Financial LLC acquired a new position in JinkoSolar during the 4th quarter worth about $200,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

JinkoSolar Stock Performance

JKS opened at $15.69 on Monday. JinkoSolar has a twelve month low of $14.81 and a twelve month high of $37.36. The firm has a market capitalization of $834.00 million, a PE ratio of 26.59 and a beta of 0.17. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. The firm’s 50-day moving average price is $21.47 and its 200 day moving average price is $23.09.

JinkoSolar (NYSE:JKS) last issued its earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.55). JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The company had revenue of $20.65 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The company’s revenue for the quarter was down 37.1% on a year-over-year basis. As a group, sell-side analysts expect that JinkoSolar will post -0.24 EPS for the current fiscal year.

About JinkoSolar

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.