JinkoSolar (NYSE:JKS) Announces Quarterly Earnings Results, Misses Expectations By $0.55 EPS

JinkoSolar (NYSE:JKS) announced its quarterly earnings results on Wednesday. The semiconductor company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55), Zacks reports. The business had revenue of $20.65 billion for the quarter, compared to analyst estimates of $3.38 billion. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The company’s revenue was down 37.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 EPS.

JinkoSolar Stock Performance

Shares of JinkoSolar stock opened at $20.12 on Friday. JinkoSolar has a fifty-two week low of $16.70 and a fifty-two week high of $37.36. The firm has a market capitalization of $1.07 billion, a P/E ratio of 34.10 and a beta of 0.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The company’s 50 day moving average price is $21.78 and its two-hundred day moving average price is $23.13.

Analysts Set New Price Targets

JKS has been the topic of a number of analyst reports. UBS Group dropped their price target on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday. Daiwa Capital Markets downgraded shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday, January 10th. The Goldman Sachs Group cut their price target on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Thursday. Jefferies Financial Group raised their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, Glj Research cut 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. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.19.

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.