JinkoSolar (NYSE:JKS) Announces Quarterly Earnings Results

JinkoSolar (NYSE:JKS) released its quarterly earnings results on Wednesday. The semiconductor company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55), Zacks reports. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The firm had revenue of $20.65 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. The company’s revenue for the quarter was down 37.1% compared to the same quarter last year.

JinkoSolar Price Performance

NYSE:JKS traded down $0.41 on Thursday, reaching $20.12. 808,728 shares of the company’s stock traded hands, compared to its average volume of 784,476. The stock has a 50-day simple moving average of $21.85 and a 200-day simple moving average of $23.15. JinkoSolar has a 12 month low of $16.70 and a 12 month high of $37.36. The firm has a market cap of $1.07 billion, a PE ratio of 34.10 and a beta of 0.40. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group reduced their target price on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a report on Thursday. Glj Research reduced their price objective on JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a research note on Thursday, January 23rd. Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a research report on Friday, January 10th. UBS Group reduced their price target on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group raised their price objective on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.19.

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.