JinkoSolar (NYSE:JKS) Shares Down 8.3% - Here's Why

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report)'s stock price dropped 8.3% during mid-day trading on Tuesday . The stock traded as low as $18.22 and last traded at $18.43. Approximately 171,040 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 1,035,213 shares. The stock had previously closed at $20.09.

Analyst Ratings Changes

A number of brokerages have recently commented on JKS. Citigroup lowered JinkoSolar from a "buy" rating to a "sell" rating in a report on Monday, May 5th. 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. Finally, 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 report on Thursday, March 27th. Four investment 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $27.19.

JinkoSolar Trading Down 0.2%

The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 1.07. The business has a fifty day moving average of $18.25 and a 200-day moving average of $20.98. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -3.96 and a beta of 0.18.

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 for the quarter, missing the consensus estimate of ($1.45) by ($1.40). JinkoSolar had a negative net margin of 2.23% and a negative return on equity of 2.95%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the business posted $1.34 EPS. The business's revenue for the quarter was down 39.9% on a year-over-year basis. On average, equities analysts anticipate that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current fiscal year.

JinkoSolar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd will be issued a $0.325 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.53%. JinkoSolar's payout ratio is currently -29.48%.

Institutional Trading of JinkoSolar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise bought a new stake in shares of JinkoSolar in the 1st quarter worth approximately $36,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of JinkoSolar in the 4th quarter worth approximately $55,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of JinkoSolar by 502.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company's stock worth $102,000 after purchasing an additional 4,562 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of JinkoSolar in the 4th quarter worth approximately $119,000. Finally, New York State Common Retirement Fund bought a new stake in shares of JinkoSolar in the 4th quarter worth approximately $132,000. 35.82% of the stock is currently owned by institutional investors.

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.