JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.54 and traded as high as $24.65. JinkoSolar shares last traded at $23.27, with a volume of 599,200 shares trading hands.
Wall Street Analysts Forecast Growth
Several research firms have commented on JKS. UBS Group lowered their target price 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 lowered their price objective 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 JinkoSolar from a "buy" rating to a "sell" rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $27.19.
View Our Latest Report on JKS
JinkoSolar Stock Down 0.2%
The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -4.61 and a beta of 0.22. 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 business has a 50-day moving average price of $20.52 and a 200-day moving average price of $20.49.
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 (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 company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. JinkoSolar's quarterly revenue was down 39.9% on a year-over-year basis. As a group, equities analysts anticipate that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current fiscal year.
JinkoSolar Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend was Wednesday, July 2nd. JinkoSolar's dividend payout ratio is -54.98%.
Institutional Trading of JinkoSolar
Large investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its holdings in shares of JinkoSolar by 15.3% during the first quarter. Invesco Ltd. now owns 1,418,425 shares of the semiconductor company's stock valued at $26,439,000 after buying an additional 187,930 shares in the last quarter. Greenwoods Asset Management Hong Kong Ltd. boosted its position in JinkoSolar by 37.0% during the 1st quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 780,933 shares of the semiconductor company's stock worth $14,557,000 after acquiring an additional 211,000 shares during the period. Acadian Asset Management LLC grew its stake in JinkoSolar by 41.2% during the 1st quarter. Acadian Asset Management LLC now owns 387,834 shares of the semiconductor company's stock valued at $7,220,000 after acquiring an additional 113,187 shares in the last quarter. Pictet Asset Management Holding SA acquired a new position in shares of JinkoSolar in the 4th quarter valued at about $5,948,000. Finally, Balyasny Asset Management L.P. lifted its position in shares of JinkoSolar by 1,592.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 129,385 shares of the semiconductor company's stock worth $3,222,000 after purchasing an additional 121,740 shares in the last quarter. 35.82% of the stock is owned by institutional investors and hedge funds.
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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