JinkoSolar Holding Company Limited (JKS) Set to Announce Quarterly Earnings on Wednesday
JinkoSolar Holding Company Limited (NYSE:JKS) will issue its quarterly earnings data before the market opens on Wednesday, August 23rd. Analysts expect the company to announce earnings of $0.69 per share for the quarter.
JinkoSolar Holding Company Limited (NYSE:JKS) last released its quarterly earnings results on Monday, June 5th. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.20. JinkoSolar Holding Company Limited had a return on equity of 12.53% and a net margin of 6.92%. The firm had revenue of $839.30 million for the quarter, compared to analysts’ expectations of $780.08 million. During the same period last year, the firm earned $1.72 EPS. The business’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts expect JinkoSolar Holding Company Limited to post $1.52 EPS for the current fiscal year and $2.06 EPS for the next fiscal year.
Shares of JinkoSolar Holding Company Limited (NYSE:JKS) opened at 28.24 on Wednesday. The company’s 50-day moving average is $24.94 and its 200 day moving average is $19.04. The stock has a market cap of $903.60 million, a P/E ratio of 3.86 and a beta of 2.04. JinkoSolar Holding Company Limited has a 1-year low of $12.72 and a 1-year high of $29.36.
A hedge fund recently raised its stake in JinkoSolar Holding Company Limited stock. State Street Corp increased its position in shares of JinkoSolar Holding Company Limited (NYSE:JKS) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,099 shares of the semiconductor company’s stock after buying an additional 345 shares during the period. State Street Corp owned approximately 0.28% of JinkoSolar Holding Company Limited worth $1,854,000 at the end of the most recent quarter. 23.66% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of JinkoSolar Holding Company Limited from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 8th. Axiom Securities reaffirmed a “buy” rating on shares of JinkoSolar Holding Company Limited in a report on Saturday, July 22nd. Credit Suisse Group AG set a $20.00 price target on shares of JinkoSolar Holding Company Limited and gave the company a “buy” rating in a report on Tuesday, June 6th. Morgan Stanley downgraded shares of JinkoSolar Holding Company Limited from an “overweight” rating to an “underweight” rating and reduced their price target for the company from $19.40 to $16.00 in a report on Friday, May 26th. Finally, Citigroup Inc. downgraded shares of JinkoSolar Holding Company Limited from a “neutral” rating to a “sell” rating and reduced their price target for the company from $15.55 to $15.00 in a report on Friday, May 26th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. JinkoSolar Holding Company Limited has a consensus rating of “Hold” and an average target price of $21.00.
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About JinkoSolar Holding Company Limited
JinkoSolar Holding Co, Ltd. operates in the photovoltaic (PV) industry. The Company has built a vertically integrated solar power product value chain, from recovering silicon materials to manufacturing solar modules and solar power generation. The Company’s segments include the manufacturing segment and the solar power projects segment.
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