JinkoSolar Holding Company Limited (NYSE:JKS) Given Consensus Recommendation of "Reduce" by Analysts

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) has been assigned a consensus rating of "Reduce" from the seven analysts that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $27.19.

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

JinkoSolar Stock Up 0.2%

JKS stock traded up $0.06 on Wednesday, reaching $24.41. 785,443 shares of the company traded hands, compared to its average volume of 1,050,635. JinkoSolar has a one year low of $13.42 and a one year high of $37.36. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.07. The company has a market cap of $1.25 billion, a P/E ratio of -4.86 and a beta of 0.22. The firm has a fifty day simple moving average of $19.99 and a 200-day simple moving average of $20.58.

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

JinkoSolar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd will be paid a $0.325 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a $1.30 dividend on an annualized basis and a dividend yield of 5.33%. JinkoSolar's dividend payout ratio (DPR) is currently -54.98%.

Hedge Funds Weigh In On JinkoSolar

Institutional investors and hedge funds have recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new position in shares of JinkoSolar in the 1st quarter worth $36,000. CANADA LIFE ASSURANCE Co purchased a new position in shares of JinkoSolar in the 4th quarter worth $55,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of JinkoSolar by 502.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company's stock worth $102,000 after buying an additional 4,562 shares during the last quarter. Jump Financial LLC purchased a new position in shares of JinkoSolar in the 4th quarter worth $200,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of JinkoSolar by 85.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company's stock worth $217,000 after buying an additional 3,998 shares during the last quarter. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

JinkoSolar Company Profile

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.