JinkoSolar (NYSE:JKS) Releases Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• JinkoSolar reported (‑$2.29) EPS for the quarter, beating the consensus (‑$2.35) by $0.06, but the company remains unprofitable with a net margin of ‑4.98% and a return on equity of ‑8.96%.
• Shares opened at $24.21 (12‑month range $15.23–$31.88) with a market cap of $1.25B, and analysts show mixed views — the consensus rating is Reduce with a $24.50 target (1 Buy, 3 Hold, 3 Sell).

JinkoSolar (NYSE:JKS - Get Free Report) posted its quarterly earnings data on Thursday. The semiconductor company reported ($2.29) earnings per share for the quarter, topping the consensus estimate of ($2.35) by $0.06, Zacks reports. JinkoSolar had a negative net margin of 4.98% and a negative return on equity of 8.96%.

JinkoSolar Trading Up 0.3%

NYSE:JKS opened at $24.21 on Thursday. JinkoSolar has a 12 month low of $15.23 and a 12 month high of $31.88. The company has a current ratio of 1.30, a quick ratio of 1.02 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -2.65 and a beta of 0.59. The firm has a fifty day simple moving average of $25.42 and a two-hundred day simple moving average of $25.81.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Zacks Research downgraded JinkoSolar from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 11th. Daiwa Securities Group raised JinkoSolar from a "sell" rating to a "buy" rating and set a $28.50 price objective on the stock in a research note on Tuesday, March 24th. Wall Street Zen lowered JinkoSolar from a "hold" rating to a "sell" rating in a research report on Saturday, March 7th. Finally, Weiss Ratings cut JinkoSolar from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, April 7th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $24.50.

Institutional Trading of JinkoSolar

Several large investors have recently made changes to their positions in JKS. Raymond James Financial Inc. acquired a new position in JinkoSolar during the 2nd quarter worth approximately $47,000. Federation des caisses Desjardins du Quebec grew its stake in JinkoSolar by 277.9% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 7,086 shares of the semiconductor company's stock valued at $183,000 after acquiring an additional 5,211 shares during the period. Janney Montgomery Scott LLC bought a new stake in shares of JinkoSolar during the fourth quarter valued at approximately $209,000. Russell Investments Group Ltd. bought a new stake in shares of JinkoSolar during the fourth quarter valued at approximately $215,000. Finally, JPMorgan Chase & Co. raised its position in shares of JinkoSolar by 7,759.6% during the second quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company's stock worth $235,000 after purchasing an additional 10,941 shares during the period. 35.82% of the stock is currently owned by institutional investors and hedge funds.

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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