Roth Capital Analysts Reduce Earnings Estimates for JinkoSolar Holding Co., Ltd. (NYSE:JKS)

JinkoSolar Holding Co., Ltd. (NYSE:JKS) – Roth Capital lowered their Q2 2024 earnings estimates for JinkoSolar in a report issued on Monday, April 29th. Roth Capital analyst P. Shen now forecasts that the semiconductor company will earn $0.05 per share for the quarter, down from their previous estimate of $0.26. Roth Capital currently has a “Neutral” rating on the stock. The consensus estimate for JinkoSolar’s current full-year earnings is $5.27 per share. Roth Capital also issued estimates for JinkoSolar’s Q3 2024 earnings at $0.74 EPS and FY2024 earnings at ($0.37) EPS.

A number of other research analysts also recently issued reports on JKS. StockNews.com downgraded JinkoSolar from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. 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 research report on Thursday, April 11th. HSBC restated a “hold” rating and set a $30.00 price target on shares of JinkoSolar in a research note on Monday, February 5th. UBS Group lowered their price objective on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, March 21st. Finally, Daiwa Capital Markets downgraded JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Monday, February 5th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.60.

JinkoSolar Price Performance

Shares of NYSE JKS opened at $25.10 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.80 and a current ratio of 1.03. The stock’s 50-day simple moving average is $24.93 and its 200-day simple moving average is $29.00. The firm has a market capitalization of $1.32 billion, a PE ratio of 3.92 and a beta of 0.38. JinkoSolar has a fifty-two week low of $21.06 and a fifty-two week high of $49.20.

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 the consensus estimate of $2.32 by ($1.11). JinkoSolar had a net margin of 2.74% and a return on equity of 11.12%. The company had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.08 billion.

Hedge Funds Weigh In On JinkoSolar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of JinkoSolar by 202.1% in the 4th quarter. Signaturefd LLC now owns 1,006 shares of the semiconductor company’s stock worth $37,000 after buying an additional 673 shares during the last quarter. Headlands Technologies LLC bought a new stake in JinkoSolar in the 3rd quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. grew its position in JinkoSolar by 109.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,215 shares of the semiconductor company’s stock worth $94,000 after purchasing an additional 1,678 shares during the last quarter. Barometer Capital Management Inc. bought a new position in JinkoSolar in the 4th quarter worth about $126,000. Finally, Van ECK Associates Corp increased its stake in shares of JinkoSolar by 16.0% in the third quarter. Van ECK Associates Corp now owns 14,379 shares of the semiconductor company’s stock valued at $437,000 after purchasing an additional 1,987 shares during the period. 35.82% of the stock is owned by hedge funds and other 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.