JinkoSolar Holding Company Limited (NYSE:JKS) Receives $27.19 Consensus PT from Analysts

JinkoSolar Holding Company Limited (NYSE:JKS) has been assigned a consensus rating of “Reduce” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $27.19.

Several equities research analysts have commented on JKS shares. Citigroup downgraded shares of JinkoSolar from a “buy” rating to a “sell” rating in a research note on Monday, May 5th. The Goldman Sachs Group lowered their target price on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Thursday, March 27th. Finally, UBS Group lowered their price objective on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, March 27th.

JinkoSolar Stock Up 4.0%

Shares of NYSE:JKS opened at $19.91 on Friday. JinkoSolar has a 52 week low of $13.42 and a 52 week high of $37.36. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.33. The company has a market capitalization of $1.02 billion, a PE ratio of -3.97 and a beta of 0.18. The company has a 50 day moving average price of $18.02 and a two-hundred day moving average price of $21.06.

JinkoSolar (NYSE:JKS) last issued its earnings results on Tuesday, April 29th. The semiconductor company reported ($2.85) EPS for the quarter, missing the consensus estimate of ($1.45) by ($1.40). JinkoSolar had a negative net margin of 2.23% and a negative return on equity of 2.95%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the company posted $1.34 EPS. The firm’s revenue for the quarter was down 39.9% on a year-over-year basis. Analysts forecast that JinkoSolar will post -0.24 earnings per share for the current year.

JinkoSolar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.53%. The ex-dividend date of this dividend is Wednesday, July 2nd. JinkoSolar’s dividend payout ratio is -29.48%.

Institutional Investors Weigh In On JinkoSolar

Several large investors have recently made changes to their positions in the stock. Invesco Ltd. increased its position in shares of JinkoSolar by 15.3% during the first quarter. Invesco Ltd. now owns 1,418,425 shares of the semiconductor company’s stock worth $26,439,000 after acquiring an additional 187,930 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. grew its position in JinkoSolar by 37.0% in the first quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 780,933 shares of the semiconductor company’s stock valued at $14,557,000 after purchasing an additional 211,000 shares in the last quarter. Acadian Asset Management LLC grew its position in JinkoSolar by 41.2% in the first quarter. Acadian Asset Management LLC now owns 387,834 shares of the semiconductor company’s stock valued at $7,220,000 after purchasing an additional 113,187 shares in the last quarter. Pictet Asset Management Holding SA bought a new position in JinkoSolar in the fourth quarter valued at $5,948,000. Finally, Balyasny Asset Management L.P. grew its position in JinkoSolar by 1,592.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company’s stock valued at $3,222,000 after purchasing an additional 121,740 shares in the last quarter. Institutional investors own 35.82% of the company’s stock.

JinkoSolar Company Profile

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.