JinkoSolar Holding Co., Ltd. (NYSE:JKS – Get Rating) has been assigned an average recommendation of "Hold" from the eight brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $51.03.
Several research firms recently issued reports on JKS. StockNews.com lowered JinkoSolar from a "hold" rating to a "sell" rating in a research note on Friday. TheStreet lowered JinkoSolar from a "c" rating to a "d+" rating in a research note on Monday, September 12th. Finally, The Goldman Sachs Group increased their target price on JinkoSolar from $31.00 to $35.00 and gave the stock a "sell" rating in a research note on Monday, August 29th.
Get JinkoSolar alerts:Institutional Investors Weigh In On JinkoSolar
Several large investors have recently bought and sold shares of JKS. Hhlr Advisors LTD. purchased a new position in shares of JinkoSolar in the 2nd quarter valued at about $78,894,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of JinkoSolar in the 2nd quarter valued at about $45,887,000. Renaissance Technologies LLC purchased a new position in shares of JinkoSolar in the 2nd quarter valued at about $33,995,000. SPRINGS CAPITAL HONG KONG Ltd purchased a new position in shares of JinkoSolar in the 1st quarter valued at about $22,736,000. Finally, BlackRock Inc. increased its holdings in shares of JinkoSolar by 16.2% in the 1st quarter. BlackRock Inc. now owns 2,632,512 shares of the semiconductor company's stock valued at $127,123,000 after acquiring an additional 366,251 shares during the last quarter. Hedge funds and other institutional investors own 88.68% of the company's stock.
JinkoSolar Stock Performance
Shares of JinkoSolar stock opened at $53.65 on Friday. JinkoSolar has a 52 week low of $35.41 and a 52 week high of $76.92. The business's fifty day simple moving average is $60.62 and its 200-day simple moving average is $57.88. The firm has a market cap of $2.69 billion, a PE ratio of -44.34 and a beta of 0.70. The company has a quick ratio of 0.79, a current ratio of 1.09 and a debt-to-equity ratio of 0.54.JinkoSolar (NYSE:JKS – Get Rating) last announced its quarterly earnings results on Friday, August 26th. The semiconductor company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.19 by $0.92. JinkoSolar had a positive return on equity of 3.22% and a negative net margin of 0.23%. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.25 billion. Equities analysts forecast that JinkoSolar will post 2.79 earnings per share for the current year.
JinkoSolar announced that its Board of Directors has authorized a stock buyback program on Wednesday, July 6th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.
JinkoSolar Company Profile
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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.
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