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

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

JKS has been the topic of several recent analyst reports. The Goldman Sachs Group decreased 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. Citigroup downgraded JinkoSolar from a "buy" rating to a "sell" rating in a research note on Monday, May 5th. Finally, UBS Group reduced their price objective on JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th.

JinkoSolar Stock Performance

Shares of NYSE JKS traded down $0.04 during trading on Wednesday, hitting $24.07. The company had a trading volume of 738,199 shares, compared to its average volume of 1,047,065. The stock has a 50 day simple moving average of $19.59 and a 200 day simple moving average of $20.58. 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 has a 12 month low of $13.42 and a 12 month high of $37.36. The firm has a market capitalization of $1.24 billion, a P/E ratio of -4.79 and a beta of 0.22.

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 net margin of 2.23% and a negative return on equity of 2.95%. The firm's revenue for the quarter was down 39.9% compared to the same quarter last year. During the same period last year, the business posted $1.34 EPS. As a group, analysts anticipate that JinkoSolar will post -0.24 earnings per share for the current year.

JinkoSolar Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend is Wednesday, July 2nd. JinkoSolar's dividend payout ratio (DPR) is -54.98%.

Hedge Funds Weigh In On JinkoSolar

A number of institutional investors and hedge funds have recently modified their holdings of JKS. Bank of New York Mellon Corp boosted its holdings in shares of JinkoSolar by 245.8% in the 4th quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company's stock worth $1,032,000 after purchasing an additional 29,459 shares during the period. AI Squared Management Ltd purchased a new position in shares of JinkoSolar in the 4th quarter worth approximately $2,336,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of JinkoSolar by 5.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company's stock worth $532,000 after purchasing an additional 1,028 shares during the period. Pictet Asset Management Holding SA purchased a new position in shares of JinkoSolar in the 4th quarter worth approximately $5,948,000. Finally, Trexquant Investment LP purchased a new position in shares of JinkoSolar in the 4th quarter worth approximately $341,000. Hedge funds and other institutional investors own 35.82% of the company's stock.

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.