JinkoSolar (NYSE:JKS) Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded JinkoSolar (NYSE:JKS) from "sell" to "hold"; the stock's consensus rating is now Hold with an average analyst target of $24.13 after mixed analyst actions (1 Strong Buy, 1 Buy, 4 Hold, 2 Sell).
• In its latest quarter JinkoSolar reported ($1.52) EPS, beating the consensus ($1.84) but missed on revenue ($1.78B vs. $2.09B); the company remains unprofitable with a negative return on equity and net margin, and analysts expect -4.58 EPS for the fiscal year.
• Shares were up about 3.2% and opened at $24.11 (1‑year range $16.80–$31.88) with a market cap near $1.25B, while institutional buyers including HSBC and Invesco materially increased their stakes.

JinkoSolar (NYSE:JKS - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Other analysts have also recently issued research reports about the company. Weiss Ratings raised JinkoSolar from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, April 22nd. UBS Group lowered their price target on JinkoSolar from $25.00 to $23.00 and set a "neutral" rating for the company in a research report on Wednesday. Zacks Research cut JinkoSolar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 11th. Freedom Capital raised JinkoSolar from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 17th. Finally, Daiwa Securities Group raised JinkoSolar from a "sell" rating to a "buy" rating and set a $28.50 price target for the company in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $24.13.

JinkoSolar Stock Up 3.2%

Shares of JKS stock opened at $24.11 on Friday. JinkoSolar has a 1-year low of $16.80 and a 1-year high of $31.88. The stock's fifty day moving average price is $24.24 and its 200 day moving average price is $25.63. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.26 and a quick ratio of 0.99. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -2.47 and a beta of 0.53.

JinkoSolar (NYSE:JKS - Get Free Report) last announced its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.84) by $0.32. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%.The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $2.09 billion. On average, research analysts expect that JinkoSolar will post -4.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On JinkoSolar

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC lifted its holdings in shares of JinkoSolar by 355.9% in the 1st quarter. Hsbc Holdings PLC now owns 189,569 shares of the semiconductor company's stock valued at $4,817,000 after buying an additional 147,992 shares during the period. Banque Cantonale Vaudoise lifted its holdings in shares of JinkoSolar by 37.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company's stock valued at $78,000 after buying an additional 839 shares during the period. Invesco Ltd. lifted its holdings in shares of JinkoSolar by 15.4% in the 4th quarter. Invesco Ltd. now owns 1,604,250 shares of the semiconductor company's stock valued at $41,406,000 after buying an additional 213,935 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of JinkoSolar by 1.5% in the 4th quarter. Mackenzie Financial Corp now owns 1,381,478 shares of the semiconductor company's stock valued at $36,289,000 after buying an additional 20,000 shares during the period. Finally, Progeny 3 Inc. lifted its holdings in shares of JinkoSolar by 22.2% in the 4th quarter. Progeny 3 Inc. now owns 119,000 shares of the semiconductor company's stock valued at $3,071,000 after buying an additional 21,600 shares during the period. Institutional investors and hedge funds own 35.82% of the company's stock.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. NYSE: JKS is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world's largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar's product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.

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