JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $21.55, but opened at $22.60. JinkoSolar shares last traded at $25.20, with a volume of 1,327,275 shares changing hands.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the stock. Roth Mkm cut their target price on shares of JinkoSolar from $25.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, September 4th. The Goldman Sachs Group reduced their price objective on shares of JinkoSolar from $21.00 to $18.00 and set a "sell" rating on the stock in a research note on Tuesday, September 3rd. Finally, StockNews.com raised shares of JinkoSolar from a "sell" rating to a "hold" rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $24.60.
Check Out Our Latest Report on JinkoSolar
JinkoSolar Stock Up 9.1 %
The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 3.71 and a beta of 0.43. The firm's 50-day moving average is $20.99 and its 200 day moving average is $22.51. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.08 and a quick ratio of 0.79.
JinkoSolar (NYSE:JKS - Get Free Report) last issued its earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.92. JinkoSolar had a return on equity of 7.86% and a net margin of 1.65%. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.85 billion. Sell-side analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current fiscal year.
JinkoSolar Dividend Announcement
The company also recently announced a Variable dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a dividend of $1.50 per share. This represents a dividend yield of 15.6%. The ex-dividend date of this dividend was Thursday, August 15th. JinkoSolar's payout ratio is currently 46.18%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp increased its position in shares of JinkoSolar by 1.8% in the second quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company's stock worth $53,296,000 after acquiring an additional 44,661 shares in the last quarter. Vanguard Group Inc. increased its holdings in JinkoSolar by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,591,101 shares of the semiconductor company's stock valued at $40,080,000 after purchasing an additional 14,491 shares in the last quarter. Dimensional Fund Advisors LP raised its position in JinkoSolar by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company's stock valued at $20,357,000 after purchasing an additional 74,219 shares during the period. Marshall Wace LLP lifted its stake in shares of JinkoSolar by 49.5% during the second quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company's stock worth $9,277,000 after purchasing an additional 148,268 shares in the last quarter. Finally, Decade Renewable Partners LP purchased a new stake in shares of JinkoSolar in the second quarter worth about $4,272,000. Hedge funds and other institutional investors own 35.82% of the company's stock.
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; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.
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