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

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has received an average rating of “Reduce” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $26.60.

A number of research analysts have recently weighed in on JKS shares. Roth Mkm reissued a “neutral” rating and set a $25.00 price objective (down from $50.00) on shares of JinkoSolar in a research note on Thursday, March 21st. Daiwa Capital Markets cut shares of JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Monday, February 5th. HSBC reaffirmed a “hold” rating and issued a $30.00 target price on shares of JinkoSolar in a research note on Monday, February 5th. UBS Group lowered their target price on shares of JinkoSolar from $31.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group lowered their target price on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating for the company in a research note on Thursday, April 11th.

Hedge Funds Weigh In On JinkoSolar

A number of hedge funds have recently made changes to their positions in JKS. Morgan Stanley boosted its holdings in shares of JinkoSolar by 65.7% in the 3rd quarter. Morgan Stanley now owns 2,026,002 shares of the semiconductor company’s stock valued at $61,530,000 after purchasing an additional 803,164 shares during the last quarter. Mackenzie Financial Corp boosted its position in JinkoSolar by 22.6% during the 3rd quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock worth $78,895,000 after purchasing an additional 493,976 shares during the period. BlackRock Inc. boosted its position in JinkoSolar by 16.2% during the 1st quarter. BlackRock Inc. now owns 2,632,512 shares of the semiconductor company’s stock worth $127,123,000 after purchasing an additional 366,251 shares during the period. Goldman Sachs Group Inc. boosted its position in JinkoSolar by 116.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 656,938 shares of the semiconductor company’s stock worth $45,447,000 after purchasing an additional 353,154 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in JinkoSolar during the 4th quarter worth $14,189,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Trading Down 0.4 %

Shares of JinkoSolar stock opened at $21.57 on Monday. The company has a current ratio of 1.04, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $25.37 and a two-hundred day moving average of $29.31. JinkoSolar has a 12-month low of $21.06 and a 12-month high of $50.46. The stock has a market cap of $1.13 billion, a PE ratio of 2.75 and a beta of 0.37.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($1.11). JinkoSolar had a return on equity of 11.85% and a net margin of 2.89%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.08 billion. On average, research analysts anticipate that JinkoSolar will post 5.27 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; and develops commercial solar power projects.