JinkoSolar Holding Co., Ltd. (NYSE:JKS) Given Average Rating of “Reduce” by Analysts

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has received an average recommendation of “Reduce” from the six brokerages that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $27.19.

A number of equities research analysts have recently commented on JKS shares. Jefferies Financial Group lifted their target price on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Daiwa Capital Markets cut shares of JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Glj Research decreased their price target on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research note on Thursday, January 23rd. UBS Group dropped their price objective on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group decreased their target price on JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Thursday.

Hedge Funds Weigh In On JinkoSolar

Large investors have recently made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its stake in JinkoSolar by 15.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 8,800 shares of the semiconductor company’s stock worth $236,000 after purchasing an additional 1,200 shares during the period. Verition Fund Management LLC bought a new position in shares of JinkoSolar in the third quarter valued at approximately $682,000. State Street Corp grew its stake in JinkoSolar by 10.7% during the third quarter. State Street Corp now owns 696,763 shares of the semiconductor company’s stock valued at $18,687,000 after acquiring an additional 67,223 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in JinkoSolar during the 3rd quarter worth approximately $928,000. Finally, Barclays PLC lifted its stake in JinkoSolar by 30.2% in the 3rd quarter. Barclays PLC now owns 2,318 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 537 shares in the last quarter. 35.82% of the stock is owned by institutional investors.

JinkoSolar Trading Down 2.1 %

NYSE:JKS opened at $19.69 on Monday. JinkoSolar has a 52 week low of $16.70 and a 52 week high of $37.36. The firm has a 50-day moving average price of $21.74 and a two-hundred day moving average price of $23.20. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 33.36 and a beta of 0.40. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22.

JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55). JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The business had revenue of $20.65 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the business posted $0.54 earnings per share. The business’s revenue was down 37.1% compared to the same quarter last year. On average, equities analysts expect that JinkoSolar will post -0.24 earnings per share 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; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.