JinkoSolar (NYSE:JKS) Shares Up 8.8% - What's Next?

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) were up 8.8% during trading on Monday . The stock traded as high as $25.88 and last traded at $25.60. Approximately 1,040,676 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 1,004,368 shares. The stock had previously closed at $23.52.

Analysts Set New Price Targets

A number of research analysts have weighed in on JKS shares. StockNews.com upgraded shares of JinkoSolar from a "sell" rating to a "hold" rating in a research note on Wednesday, September 18th. Roth Mkm reduced their price objective on JinkoSolar from $25.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, September 4th. Finally, The Goldman Sachs Group decreased their target price on JinkoSolar from $21.00 to $18.00 and set a "sell" rating for the company in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $24.60.

JinkoSolar Stock Up 17.8 %

The stock's fifty day moving average is $21.23 and its two-hundred day moving average is $22.49. The company has a current ratio of 1.08, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.47 billion, a P/E ratio of 4.32 and a beta of 0.43.

JinkoSolar (NYSE:JKS - Get Free Report) last issued its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.92. JinkoSolar had a return on equity of 7.86% and a net margin of 1.65%. The company had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.85 billion. As a group, research analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current year.

JinkoSolar Announces Dividend

The firm also recently disclosed 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 was Thursday, August 15th. JinkoSolar's payout ratio is 46.18%.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its position in shares of JinkoSolar by 1.8% during the 2nd quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company's stock valued at $53,296,000 after buying an additional 44,661 shares in the last quarter. Vanguard Group Inc. raised its position in JinkoSolar by 0.9% during the first 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 lifted its stake in JinkoSolar by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 981,492 shares of the semiconductor company's stock worth $20,357,000 after purchasing an additional 74,219 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of JinkoSolar by 49.5% in the 2nd 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 bought a new position in shares of JinkoSolar during the 2nd quarter valued at about $4,272,000. 35.82% of the stock is currently owned by institutional investors.

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.