JinkoSolar (NYSE:JKS) Releases Earnings Results, Beats Estimates By $0.92 EPS

JinkoSolar (NYSE:JKS) issued its quarterly earnings data on Friday. The semiconductor company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.92, reports. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.85 billion. JinkoSolar had a net margin of 2.74% and a return on equity of 11.12%.

JinkoSolar Stock Up 5.7 %

Shares of NYSE JKS opened at $19.14 on Friday. JinkoSolar has a 52-week low of $16.70 and a 52-week high of $38.65. The firm has a fifty day moving average of $20.40 and a 200-day moving average of $23.65. The stock has a market capitalization of $1.02 billion, a PE ratio of 2.99 and a beta of 0.38. The company has a quick ratio of 0.77, a current ratio of 1.03 and a debt-to-equity ratio of 0.56.

JinkoSolar Dividend Announcement

The business also recently disclosed a Variable dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were paid a dividend of $1.50 per share. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 15.6%. JinkoSolar’s dividend payout ratio is presently 46.18%.

Institutional Trading of JinkoSolar

Several institutional investors have recently made changes to their positions in the stock. Signaturefd LLC grew its stake in shares of JinkoSolar by 202.1% during the 4th quarter. Signaturefd LLC now owns 1,006 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 673 shares during the period. Tidal Investments LLC grew its stake in shares of JinkoSolar by 4.0% during the 1st quarter. Tidal Investments LLC now owns 21,629 shares of the semiconductor company’s stock valued at $545,000 after buying an additional 825 shares during the period. Profund Advisors LLC grew its stake in shares of JinkoSolar by 8.5% during the 2nd quarter. Profund Advisors LLC now owns 12,217 shares of the semiconductor company’s stock valued at $253,000 after buying an additional 960 shares during the period. SG Americas Securities LLC grew its stake in shares of JinkoSolar by 16.0% during the 2nd quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock valued at $442,000 after buying an additional 2,939 shares during the period. Finally, Barometer Capital Management Inc. purchased a new stake in shares of JinkoSolar during the 4th quarter valued at $126,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of JinkoSolar from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, JinkoSolar has a consensus rating of “Hold” and an average price target of $26.60.

About JinkoSolar

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.