The Goldman Sachs Group Issues Pessimistic Forecast for JinkoSolar (NYSE:JKS) Stock Price

JinkoSolar (NYSE:JKS - Get Free Report) had its target price reduced by analysts at The Goldman Sachs Group from $20.00 to $18.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "sell" rating on the semiconductor company's stock. The Goldman Sachs Group's price objective points to a potential downside of 3.78% from the company's current price.

Several other research firms have also commented on JKS. Daiwa Capital Markets lowered shares of JinkoSolar from an "underperform" rating to a "sell" rating in a report on Friday, January 10th. Glj Research reduced their price objective on JinkoSolar from $13.08 to $10.95 and set a "sell" rating on the stock in a research note on Thursday, January 23rd. Jefferies Financial Group boosted their target price on JinkoSolar from $36.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Finally, UBS Group cut their target price on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research note on Thursday. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $27.19.

JinkoSolar Stock Performance

JinkoSolar stock traded down $0.88 during midday trading on Thursday, reaching $18.71. The stock had a trading volume of 935,232 shares, compared to its average volume of 1,039,175. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. JinkoSolar has a 12 month low of $16.70 and a 12 month high of $37.36. The firm has a market capitalization of $994.42 million, a PE ratio of 31.71 and a beta of 0.40. The firm's 50-day moving average price is $21.74 and its 200 day moving average price is $23.20.

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JinkoSolar (NYSE:JKS - Get Free Report) 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 return on equity of 4.18% and a net margin of 0.53%. The company had revenue of $20.65 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the company earned $0.54 EPS. JinkoSolar's quarterly revenue was down 37.1% on a year-over-year basis. As a group, research analysts predict that JinkoSolar will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio raised its position in JinkoSolar by 42.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 49,365 shares of the semiconductor company's stock worth $1,229,000 after buying an additional 14,765 shares during the last quarter. Twinbeech Capital LP boosted its holdings in JinkoSolar by 219.9% in the fourth quarter. Twinbeech Capital LP now owns 25,960 shares of the semiconductor company's stock worth $646,000 after purchasing an additional 17,846 shares during the last quarter. Millennium Management LLC purchased a new position in shares of JinkoSolar in the 4th quarter worth $2,846,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of JinkoSolar by 85.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company's stock valued at $217,000 after purchasing an additional 3,998 shares during the period. Finally, CoreCommodity Management LLC grew its position in JinkoSolar by 1.1% during the fourth quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company's stock valued at $1,533,000 after buying an additional 640 shares during the period. Hedge funds and other institutional investors own 35.82% of the company's stock.

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.