JinkoSolar (NYSE:JKS) Reaches New 1-Year Low on Disappointing Earnings

JinkoSolar Holding Company Limited (NYSE:JKS)’s stock price hit a new 52-week low on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $13.66 and last traded at $13.4490, with a volume of 304667 shares. The stock had previously closed at $15.50.

The semiconductor company reported ($2.53) EPS for the quarter, missing the consensus estimate of ($0.75) by ($1.78). JinkoSolar had a negative net margin of 5.85% and a negative return on equity of 9.93%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $2.17 billion.

JinkoSolar Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on JKS. Roth Capital restated a “neutral” rating and set a $16.00 price objective on shares of JinkoSolar in a report on Thursday. The Goldman Sachs Group set a $11.00 target price on shares of JinkoSolar in a research report on Thursday. UBS Group raised their price target on shares of JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Weiss Ratings reissued a “sell (d)” rating on shares of JinkoSolar in a report on Monday, August 3rd. Finally, Wall Street Zen raised JinkoSolar from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. One 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 given a Sell rating to the company. According to MarketBeat.com, JinkoSolar currently has an average rating of “Hold” and an average price target of $19.88.

Insiders Place Their Bets

In related news, Director Wing Keong Siew sold 16,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total value of $263,840.00. Following the transaction, the director owned 170,000 shares in the company, valued at approximately $2,803,300. This represents a 8.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 19.80% of the company’s stock.

Institutional Trading of JinkoSolar

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of JinkoSolar in the second quarter worth $47,000. Banque Cantonale Vaudoise acquired a new position in JinkoSolar during the fourth quarter valued at $58,000. Leonteq Securities AG purchased a new stake in JinkoSolar in the fourth quarter valued at $101,000. Federation des caisses Desjardins du Quebec grew its position in JinkoSolar by 277.9% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company’s stock worth $183,000 after purchasing an additional 5,211 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in JinkoSolar during the 4th quarter worth about $209,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

JinkoSolar Price Performance

The stock has a 50 day simple moving average of $16.08 and a two-hundred day simple moving average of $21.08. The firm has a market cap of $707.20 million, a PE ratio of -1.45 and a beta of 0.52. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.95 and a current ratio of 1.26.

JinkoSolar Company Profile

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.