JinkoSolar (NYSE:JKS) Releases Earnings Results, Misses Expectations By $0.55 EPS

JinkoSolar (NYSE:JKS) announced 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 return on equity of 4.18% and a net margin of 0.53%. The business had revenue of $20.65 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period last year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was down 37.1% on a year-over-year basis.

JinkoSolar Price Performance

Shares of NYSE JKS traded down $0.41 during midday trading on Thursday, hitting $20.12. The company had a trading volume of 808,728 shares, compared to its average volume of 1,020,427. JinkoSolar has a twelve month low of $16.70 and a twelve month high of $37.36. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 34.10 and a beta of 0.40. The business has a 50-day simple moving average of $21.85 and a two-hundred day simple moving average of $23.15.

Wall Street Analysts Forecast Growth

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