Brokerages Set JinkoSolar Holding Company Limited (NYSE:JKS) Target Price at $27.19

Shares of JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the seven research firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $27.19.

JKS has been the topic of a number of analyst reports. The Goldman Sachs Group cut their price target on JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a report on Thursday, March 27th. UBS Group dropped their price objective on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Finally, Citigroup downgraded shares of JinkoSolar from a "buy" rating to a "sell" rating in a report on Monday, May 5th.

Institutional Investors Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise acquired a new position in shares of JinkoSolar during the first quarter valued at about $36,000. CANADA LIFE ASSURANCE Co purchased a new stake in JinkoSolar during the 4th quarter worth approximately $55,000. Caitong International Asset Management Co. Ltd grew its position in JinkoSolar by 502.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company's stock worth $102,000 after purchasing an additional 4,562 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of JinkoSolar in the fourth quarter worth $119,000. Finally, New York State Common Retirement Fund purchased a new position in shares of JinkoSolar in the fourth quarter worth $132,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Trading Down 4.8%

JinkoSolar stock traded down $0.96 during trading hours on Friday, hitting $19.13. The company had a trading volume of 1,400,735 shares, compared to its average volume of 1,041,252. JinkoSolar has a 1 year low of $13.42 and a 1 year high of $37.36. The firm has a market cap of $983.05 million, a P/E ratio of -3.81 and a beta of 0.18. The company has a 50-day moving average price of $17.93 and a two-hundred day moving average price of $21.07. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.33.

JinkoSolar (NYSE:JKS - Get Free Report) last issued its earnings results on Tuesday, April 29th. The semiconductor company reported ($2.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.45) by ($1.40). The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. JinkoSolar had a negative return on equity of 2.95% and a negative net margin of 2.23%. The firm's revenue was down 39.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 earnings per share. On average, sell-side analysts anticipate that JinkoSolar will post -0.24 earnings per share for the current year.

JinkoSolar Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd will be paid a dividend of $0.325 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $1.30 annualized dividend and a yield of 6.79%. JinkoSolar's dividend payout ratio (DPR) is -29.48%.

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.