JinkoSolar (JKS) Lowered to “Sell” at ValuEngine

ValuEngine cut shares of JinkoSolar (NYSE:JKS) from a hold rating to a sell rating in a report published on Monday morning, ValuEngine reports.

Several other equities analysts have also recently commented on the stock. Goldman Sachs Group raised shares of JinkoSolar from a neutral rating to a buy rating and set a $20.00 price objective for the company in a research note on Monday, February 4th. TheStreet raised shares of JinkoSolar from a d+ rating to a c rating in a research note on Thursday, January 17th. Roth Capital raised shares of JinkoSolar from a neutral rating to a buy rating and reduced their price objective for the company from $20.00 to $11.50 in a research note on Monday, February 4th. Finally, Zacks Investment Research raised shares of JinkoSolar from a hold rating to a buy rating and set a $18.00 price objective for the company in a research note on Wednesday, February 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. JinkoSolar currently has a consensus rating of Hold and an average price target of $12.58.

Shares of NYSE JKS traded down $0.30 during midday trading on Monday, hitting $17.69. The company’s stock had a trading volume of 2,226 shares, compared to its average volume of 1,055,496. JinkoSolar has a one year low of $7.11 and a one year high of $21.80. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.31. The firm has a market cap of $496.42 million, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 0.59 and a beta of 2.34.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings results on Friday, March 22nd. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.32). JinkoSolar had a net margin of 1.60% and a return on equity of 5.01%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm earned $0.20 EPS. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts expect that JinkoSolar will post 2.97 EPS for the current year.

A number of large investors have recently modified their holdings of JKS. Northern Trust Corp grew its stake in JinkoSolar by 16.7% in the 1st quarter. Northern Trust Corp now owns 39,769 shares of the semiconductor company’s stock worth $716,000 after buying an additional 5,684 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in JinkoSolar by 5,868.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 11,341 shares of the semiconductor company’s stock worth $204,000 after buying an additional 11,151 shares in the last quarter. Handelsbanken Fonder AB grew its stake in JinkoSolar by 41.1% in the 1st quarter. Handelsbanken Fonder AB now owns 333,728 shares of the semiconductor company’s stock worth $6,007,000 after buying an additional 97,192 shares in the last quarter. Wells Fargo & Company MN grew its stake in JinkoSolar by 97.3% in the 1st quarter. Wells Fargo & Company MN now owns 9,274 shares of the semiconductor company’s stock worth $167,000 after buying an additional 4,573 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in JinkoSolar by 3.8% in the 1st quarter. First Trust Advisors LP now owns 27,780 shares of the semiconductor company’s stock worth $500,000 after buying an additional 1,018 shares in the last quarter. 29.27% of the stock is 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 in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.

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Analyst Recommendations for JinkoSolar (NYSE:JKS)

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