JinkoSolar (NYSE:JKS) Posts Earnings Results, Misses Estimates By $0.55 EPS

JinkoSolar (NYSE:JKS - Get Free Report) posted its 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 company had revenue of $20.65 billion during the quarter, compared to the consensus estimate of $3.38 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The business's quarterly revenue was down 37.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 earnings per share.

JinkoSolar Stock Down 4.5 %

JKS traded down $0.88 during midday trading on Monday, hitting $18.71. 935,960 shares of the company's stock traded hands, compared to its average volume of 1,039,178. 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 has a market cap of $994.42 million, a PE ratio of 31.71 and a beta of 0.40. JinkoSolar has a one year low of $16.70 and a one year high of $37.36. The stock's fifty day simple moving average is $21.69 and its 200-day simple moving average is $23.20.

Analyst Ratings Changes

Several brokerages recently weighed in on JKS. UBS Group cut their price objective on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Thursday. Daiwa Capital Markets cut JinkoSolar from an "underperform" rating to a "sell" rating in a report on Friday, January 10th. The Goldman Sachs Group decreased their price objective on JinkoSolar from $20.00 to $18.00 and set a "sell" rating for the company in a report on Thursday. Glj Research cut their target price on JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group boosted their price target on JinkoSolar from $36.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $27.19.

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JinkoSolar Company Profile

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.