JinkoSolar (NYSE:JKS - Get Free Report) had its price objective lowered by investment analysts at UBS Group from $25.00 to $22.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the semiconductor company's stock. UBS Group's price objective indicates a potential upside of 17.60% from the stock's current price.
A number of other analysts have also recently issued reports on the company. Glj Research reduced their price objective on JinkoSolar from $13.08 to $10.95 and set a "sell" rating for the company in a research report on Thursday, January 23rd. Jefferies Financial Group raised their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Finally, Daiwa Capital Markets cut shares of JinkoSolar from an "underperform" rating to a "sell" rating in a research note on Friday, January 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, JinkoSolar currently has an average rating of "Hold" and a consensus price target of $27.19.
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JinkoSolar Stock Down 4.5 %
JinkoSolar stock traded down $0.88 during mid-day trading on Thursday, hitting $18.71. The company's stock had a trading volume of 935,232 shares, compared to its average volume of 1,039,175. JinkoSolar has a 52-week low of $16.70 and a 52-week high of $37.36. The company has a market cap of $994.42 million, a PE ratio of 31.71 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 firm's 50 day moving average is $21.74 and its 200 day moving average is $23.20.
JinkoSolar (NYSE:JKS - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The semiconductor company reported ($1.01) earnings per share (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 analysts' expectations of $3.38 billion. During the same period last year, the company earned $0.54 earnings per share. JinkoSolar's revenue for the quarter was down 37.1% compared to the same quarter last year. On average, analysts anticipate that JinkoSolar will post -0.24 earnings per share for the current year.
Institutional Investors Weigh In On JinkoSolar
A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in JinkoSolar during the 4th quarter valued at approximately $1,435,000. State Street Corp boosted its position in shares of JinkoSolar by 10.7% in 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 during the period. Bank of New York Mellon Corp grew its stake in shares of JinkoSolar by 245.8% in the fourth quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company's stock worth $1,032,000 after acquiring an additional 29,459 shares during the last quarter. Capital Wealth Planning LLC acquired a new position in JinkoSolar during the 4th quarter valued at $752,000. Finally, Verition Fund Management LLC bought a new stake in JinkoSolar in the 3rd quarter valued at $682,000. 35.82% of the stock is currently owned by institutional investors.
About JinkoSolar
(
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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; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.
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