Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS - Get Free Report) saw unusually-strong trading volume on Wednesday . 780,079 shares were traded during trading, a decline of 20% from the previous session's volume of 980,417 shares.The stock last traded at $21.67 and had previously closed at $21.34.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on JKS. 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 report on Tuesday, September 3rd. StockNews.com raised shares of JinkoSolar from a "sell" rating to a "hold" rating in a report on Wednesday, September 18th. Finally, Roth Mkm reduced their target price on JinkoSolar from $25.00 to $20.00 and set a "neutral" rating on the stock in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $24.60.
Read Our Latest Analysis on JKS
JinkoSolar Stock Performance
The stock has a market capitalization of $1.11 billion, a P/E ratio of 3.49 and a beta of 0.43. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.79 and a current ratio of 1.08. The business's fifty day moving average price is $20.92 and its two-hundred day moving average price is $22.53.
JinkoSolar (NYSE:JKS - Get Free Report) last posted its quarterly earnings data on Friday, August 30th. The semiconductor company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.92. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.85 billion. JinkoSolar had a return on equity of 7.86% and a net margin of 1.65%. As a group, sell-side analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.42 earnings per share for the current year.
JinkoSolar Announces Dividend
The company also recently announced a Variable dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were paid a $1.50 dividend. This represents a dividend yield of 15.6%. The ex-dividend date was Thursday, August 15th. JinkoSolar's dividend payout ratio is currently 46.18%.
Hedge Funds Weigh In On JinkoSolar
Several hedge funds have recently added to or reduced their stakes in JKS. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of JinkoSolar by 31.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,588 shares of the semiconductor company's stock valued at $1,300,000 after buying an additional 12,464 shares during the period. Capstone Investment Advisors LLC boosted its holdings in JinkoSolar by 81.6% during the 1st quarter. Capstone Investment Advisors LLC now owns 29,625 shares of the semiconductor company's stock valued at $746,000 after acquiring an additional 13,314 shares during the period. Daiwa Securities Group Inc. grew its position in JinkoSolar by 117.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company's stock valued at $191,000 after acquiring an additional 4,100 shares during the last quarter. GSA Capital Partners LLP increased its stake in JinkoSolar by 372.9% in the first quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company's stock worth $1,948,000 after purchasing an additional 60,992 shares during the period. Finally, Banco BTG Pactual S.A. bought a new stake in shares of JinkoSolar during the first quarter worth $207,000. 35.82% of the stock is currently owned by institutional investors.
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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