JinkoSolar (NYSE:JKS) Posts Earnings Results, Misses Expectations By $1.78 EPS

JinkoSolar (NYSE:JKS) posted its quarterly earnings results on Wednesday. The semiconductor company reported ($2.53) EPS for the quarter, missing the consensus estimate of ($0.75) by ($1.78), Zacks reports. JinkoSolar had a negative net margin of 5.62% and a negative return on equity of 9.52%.

JinkoSolar Price Performance

JKS stock opened at $15.60 on Wednesday. The business has a fifty day moving average of $16.30 and a two-hundred day moving average of $21.27. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16. The stock has a market cap of $816.87 million, a price-to-earnings ratio of -1.60 and a beta of 0.52. JinkoSolar has a 52-week low of $14.55 and a 52-week high of $31.88.

JinkoSolar Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Thursday, July 9th. Investors of record on Monday, June 22nd were given a $1.50 dividend. This represents a yield of 837.0%. The ex-dividend date was Monday, June 22nd. JinkoSolar’s dividend payout ratio is presently -15.20%.

Analyst Ratings Changes

A number of equities analysts have weighed in on JKS shares. Wall Street Zen raised JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. UBS Group lifted their price target on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.38.

Insider Activity at JinkoSolar

In other news, Director Wing Keong Siew sold 16,000 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total transaction of $263,840.00. Following the completion of the transaction, the director directly owned 170,000 shares in the company, valued at approximately $2,803,300. This represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.80% of the stock is currently owned by company insiders.

Institutional Trading of JinkoSolar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in JinkoSolar by 9.9% during the second quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock worth $799,000 after buying an additional 3,394 shares during the period. JPMorgan Chase & Co. raised its stake in shares of JinkoSolar by 7,759.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock valued at $235,000 after acquiring an additional 10,941 shares during the period. Raymond James Financial Inc. acquired a new position in shares of JinkoSolar in the 2nd quarter worth approximately $47,000. Sei Investments Co. acquired a new position in shares of JinkoSolar in the 3rd quarter worth approximately $525,000. Finally, Invesco Ltd. boosted its position in shares of JinkoSolar by 6.7% during the 3rd quarter. Invesco Ltd. now owns 1,390,315 shares of the semiconductor company’s stock worth $33,409,000 after purchasing an additional 87,334 shares during the period. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

About JinkoSolar

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.