Northern Trust Corp Raises Stake in JinkoSolar Holding Co., Ltd. (NYSE:JKS)

Northern Trust Corp boosted its holdings in shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) by 58.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,252 shares of the semiconductor company’s stock after acquiring an additional 31,130 shares during the period. Northern Trust Corp owned 0.16% of JinkoSolar worth $2,098,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of JinkoSolar in the fourth quarter worth approximately $1,435,000. New York State Common Retirement Fund bought a new position in shares of JinkoSolar in the fourth quarter worth approximately $132,000. Bank of New York Mellon Corp lifted its stake in shares of JinkoSolar by 245.8% in the fourth quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company’s stock worth $1,032,000 after buying an additional 29,459 shares in the last quarter. Capital Wealth Planning LLC bought a new position in shares of JinkoSolar in the fourth quarter worth approximately $752,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of JinkoSolar in the fourth quarter worth approximately $119,000. 35.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on JKS. UBS Group dropped their target price on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. The Goldman Sachs Group dropped their target price on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a research note on Thursday, March 27th. Finally, Citigroup cut shares of JinkoSolar from a “buy” rating to a “sell” rating in a report on Monday, May 5th. Four analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.19.

JinkoSolar Stock Down 0.8%

JKS opened at $18.32 on Monday. 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 50 day moving average price of $17.98 and a 200-day moving average price of $21.43. JinkoSolar Holding Co., Ltd. has a twelve month low of $13.42 and a twelve month high of $37.36. The stock has a market capitalization of $941.43 million, a price-to-earnings ratio of 31.06 and a beta of 0.16.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($2.85) earnings per share for the quarter, missing the consensus estimate of ($1.45) by ($1.40). JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the firm earned $1.34 earnings per share. The firm’s revenue for the quarter was down 39.9% on a year-over-year basis. Equities research analysts forecast that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current year.

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.