JinkoSolar (NYSE:JKS) Shares Up 11.9% - What's Next?

JinkoSolar Holding Company Limited (NYSE:JKS - Get Free Report)'s stock price was up 11.9% during trading on Wednesday . The stock traded as high as $23.09 and last traded at $22.70. Approximately 595,078 shares were traded during trading, a decline of 42% from the average daily volume of 1,030,062 shares. The stock had previously closed at $20.29.

Wall Street Analyst Weigh In

Several research firms recently issued reports on JKS. Citigroup downgraded JinkoSolar from a "buy" rating to a "sell" rating in a research report on Monday, May 5th. UBS Group cut their target price on shares of JinkoSolar from $25.00 to $22.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Finally, The Goldman Sachs Group lowered their price target on shares of JinkoSolar from $20.00 to $18.00 and set a "sell" rating on the stock in a report on Thursday, March 27th. 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 data from MarketBeat, JinkoSolar currently has an average rating of "Hold" and an average target price of $27.19.

JinkoSolar Stock Performance

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 firm has a fifty day simple moving average of $19.05 and a 200 day simple moving average of $20.64. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -4.81 and a beta of 0.22.

JinkoSolar (NYSE:JKS - Get Free Report) last announced its earnings results 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 net margin of 2.23% and a negative return on equity of 2.95%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business earned $1.34 EPS. The firm's revenue for the quarter was down 39.9% compared to the same quarter last year. On average, analysts anticipate that JinkoSolar Holding Company Limited will post -0.24 earnings per share for the current fiscal year.

JinkoSolar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd will be paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date of this dividend is Wednesday, July 2nd. JinkoSolar's dividend payout ratio is presently -29.48%.

Institutional Investors Weigh In On JinkoSolar

A number of large investors have recently modified their holdings of JKS. New York State Common Retirement Fund acquired a new position in JinkoSolar during the fourth quarter worth about $132,000. Bank of New York Mellon Corp lifted its stake in JinkoSolar by 245.8% in the 4th quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company's stock worth $1,032,000 after purchasing an additional 29,459 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of JinkoSolar during the 4th quarter worth approximately $119,000. AI Squared Management Ltd purchased a new stake in shares of JinkoSolar in the fourth quarter valued at approximately $2,336,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of JinkoSolar by 5.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,289 shares of the semiconductor company's stock valued at $532,000 after purchasing an additional 1,028 shares during the last quarter. Hedge funds and other institutional investors own 35.82% of the company's stock.

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.