JinkoSolar Holding Company Limited (NYSE:JKS) Receives Average Rating of “Hold” from Analysts

JinkoSolar Holding Company Limited (NYSE:JKS) has been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $24.3750.

A number of research firms recently commented on JKS. Daiwa Securities Group upgraded shares of JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective for the company in a research report on Tuesday, March 24th. UBS Group raised their price target on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Freedom Capital upgraded JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. Weiss Ratings downgraded shares of JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd.

JinkoSolar Price Performance

JinkoSolar stock opened at $16.82 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $881.02 million, a P/E ratio of -1.73 and a beta of 0.51. The business has a 50-day moving average of $19.40 and a 200-day moving average of $23.37. JinkoSolar has a 1 year low of $14.95 and a 1 year high of $31.88.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share for the quarter, topping the consensus estimate of ($1.84) by $0.32. JinkoSolar had a negative net margin of 5.62% and a negative return on equity of 9.52%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.09 billion. On average, equities analysts anticipate that JinkoSolar will post -2.76 EPS for the current year.

JinkoSolar Announces Dividend

The company also recently announced an annual dividend, which was paid on Thursday, July 9th. Shareholders of record on Monday, June 22nd were issued a dividend of $1.50 per share. This represents a yield of 837.0%. The ex-dividend date was Monday, June 22nd. JinkoSolar’s dividend payout ratio is -15.20%.

Insider Transactions at JinkoSolar

In other news, Director Wing Keong Siew sold 16,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $16.49, for a total transaction of $263,840.00. Following the completion of the transaction, the director directly owned 170,000 shares of the company’s stock, valued at $2,803,300. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Xianhua Li sold 1,280,000 shares of JinkoSolar stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total value of $32,678,400.00. Following the completion of the sale, the director directly owned 10,349,612 shares in the company, valued at approximately $264,225,594.36. This represents a 11.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,312,000 shares of company stock worth $33,360,000. Corporate insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On JinkoSolar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in JKS. Invesco Ltd. boosted its stake in shares of JinkoSolar by 15.4% during the 4th quarter. Invesco Ltd. now owns 1,604,250 shares of the semiconductor company’s stock worth $41,406,000 after buying an additional 213,935 shares during the last quarter. Mackenzie Financial Corp boosted its position in JinkoSolar by 1.5% during the fourth quarter. Mackenzie Financial Corp now owns 1,381,478 shares of the semiconductor company’s stock valued at $36,289,000 after purchasing an additional 20,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in JinkoSolar by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 845,017 shares of the semiconductor company’s stock valued at $21,449,000 after purchasing an additional 3,118 shares in the last quarter. State Street Corp increased its position in shares of JinkoSolar by 8.0% during the 4th quarter. State Street Corp now owns 735,159 shares of the semiconductor company’s stock worth $18,978,000 after purchasing an additional 54,661 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of JinkoSolar by 9,212.1% during the 4th quarter. Legal & General Group Plc now owns 499,964 shares of the semiconductor company’s stock worth $12,904,000 after purchasing an additional 494,595 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

JinkoSolar Company Profile

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.