JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.64 and traded as high as $24.14. JinkoSolar shares last traded at $23.44, with a volume of 2,520,342 shares traded.
Analysts Set New Price Targets
JKS has been the topic of a number of research reports. UBS Group dropped their price target on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. The Goldman Sachs Group dropped their price target on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a research note on Thursday, March 27th. Finally, Citigroup downgraded shares of JinkoSolar from a "buy" rating to a "sell" rating in a research report on Monday, May 5th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $27.19.
Check Out Our Latest Stock Analysis on JinkoSolar
JinkoSolar Price Performance
The company has a quick ratio of 1.07, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -4.81 and a beta of 0.22. The company's 50-day simple moving average is $19.32 and its 200 day simple moving average is $20.58.
JinkoSolar (NYSE:JKS - Get Free Report) last posted its earnings results on Tuesday, April 29th. The semiconductor company reported ($2.85) EPS for the quarter, missing the consensus estimate of ($1.45) by ($1.40). JinkoSolar had a negative return on equity of 2.95% and a negative net margin of 2.23%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company earned $1.34 earnings per share. The company's quarterly revenue was down 39.9% compared to the same quarter last year. Equities research analysts forecast that JinkoSolar Holding Company Limited will post -0.24 EPS for the current year.
JinkoSolar Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 2nd will be issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 5.38%. The ex-dividend date of this dividend is Wednesday, July 2nd. JinkoSolar's dividend payout ratio (DPR) is -54.98%.
Institutional Investors Weigh In On JinkoSolar
Hedge funds have recently bought and sold shares of the company. Himension Capital Singapore PTE. LTD. boosted its holdings in JinkoSolar by 472.8% during the fourth quarter. Himension Capital Singapore PTE. LTD. now owns 55,175 shares of the semiconductor company's stock valued at $1,374,000 after acquiring an additional 45,542 shares during the period. Northern Trust Corp boosted its holdings in JinkoSolar by 58.6% during the fourth quarter. Northern Trust Corp now owns 84,252 shares of the semiconductor company's stock valued at $2,098,000 after acquiring an additional 31,130 shares during the period. Bank of New York Mellon Corp boosted its holdings in JinkoSolar by 245.8% during the fourth quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company's stock valued at $1,032,000 after acquiring an additional 29,459 shares during the period. Pictet Asset Management Holding SA bought a new stake in shares of JinkoSolar in the fourth quarter valued at about $5,948,000. Finally, Millennium Management LLC bought a new stake in shares of JinkoSolar in the fourth quarter valued at about $2,846,000. 35.82% of the stock is currently owned by institutional investors.
About JinkoSolar
(
Get Free Report)
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.
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