JinkoSolar Holding Co., Ltd. (NYSE:JKS) Given Average Recommendation of “Reduce” by Brokerages

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has earned a consensus rating of “Reduce” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $27.19.

Several research firms have recently weighed in on JKS. The Goldman Sachs Group reduced their target price on JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a report on Thursday, March 27th. Citigroup cut JinkoSolar from a “buy” rating to a “sell” rating in a research note on Monday, May 5th. Finally, UBS Group decreased their price objective on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Thursday, March 27th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise bought a new position in shares of JinkoSolar in the 1st quarter worth about $36,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of JinkoSolar during the 4th quarter valued at about $55,000. Caitong International Asset Management Co. Ltd raised its stake in JinkoSolar by 502.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 4,562 shares during the period. SBI Securities Co. Ltd. bought a new position in JinkoSolar in the fourth quarter worth about $119,000. Finally, New York State Common Retirement Fund bought a new position in JinkoSolar in the fourth quarter worth about $132,000. 35.82% of the stock is currently owned by institutional investors.

JinkoSolar Stock Up 2.8%

Shares of NYSE JKS opened at $19.49 on Friday. JinkoSolar has a 52-week low of $13.42 and a 52-week high of $37.36. The business’s 50 day moving average is $17.75 and its two-hundred day moving average is $21.12. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 33.03 and a beta of 0.18. The company has a quick ratio of 0.97, a current ratio of 1.22 and a debt-to-equity ratio of 0.81.

JinkoSolar (NYSE:JKS) last posted its quarterly earnings data on Tuesday, April 29th. The semiconductor company reported ($2.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.45) by ($1.40). JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. 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 prior year, the company posted $1.34 EPS. The firm’s revenue was down 39.9% compared to the same quarter last year. Research analysts predict that JinkoSolar will post -0.24 EPS for the current year.

JinkoSolar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.67%. JinkoSolar’s payout ratio is -29.48%.

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.