StockNews.com Lowers JinkoSolar (NYSE:JKS) to Sell

StockNews.com downgraded shares of JinkoSolar (NYSE:JKS) from a hold rating to a sell rating in a report released on Thursday.

A number of other research firms also recently weighed in on JKS. Roth Mkm reaffirmed a neutral rating and set a $25.00 price target (down from $50.00) on shares of JinkoSolar in a research note on Thursday, March 21st. Roth Capital lowered JinkoSolar from a buy rating to a neutral rating in a report on Thursday, March 21st. HSBC reissued a hold rating and set a $30.00 price objective on shares of JinkoSolar in a report on Monday, February 5th. The Goldman Sachs Group decreased their price objective on JinkoSolar from $26.00 to $23.00 and set a sell rating for the company in a report on Thursday, April 11th. Finally, Daiwa Capital Markets lowered JinkoSolar from an outperform rating to a neutral rating and set a $25.00 price objective for the company. in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $26.60.

JinkoSolar Stock Down 0.4 %

Shares of NYSE:JKS opened at $23.09 on Thursday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 2.94 and a beta of 0.37. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.04 and a quick ratio of 0.81. The business’s 50-day moving average is $25.04 and its 200-day moving average is $29.15. JinkoSolar has a 1 year low of $21.06 and a 1 year high of $50.46.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($1.11). JinkoSolar had a net margin of 2.89% and a return on equity of 11.85%. The business had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.08 billion. Equities research analysts predict that JinkoSolar will post 5.27 earnings per share for the current year.

Institutional Investors Weigh In On JinkoSolar

Several institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp raised its position in shares of JinkoSolar by 22.6% in the third quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock worth $78,895,000 after buying an additional 493,976 shares in the last quarter. Invesco Ltd. raised its position in shares of JinkoSolar by 10.0% in the third quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock worth $50,350,000 after buying an additional 150,262 shares in the last quarter. Vanguard Group Inc. raised its position in shares of JinkoSolar by 1.8% in the third quarter. Vanguard Group Inc. now owns 1,554,356 shares of the semiconductor company’s stock worth $47,206,000 after buying an additional 27,438 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of JinkoSolar by 16.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 661,563 shares of the semiconductor company’s stock worth $24,445,000 after buying an additional 92,737 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of JinkoSolar by 44.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 634,700 shares of the semiconductor company’s stock worth $19,276,000 after buying an additional 195,300 shares in 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; and develops commercial solar power projects.