JinkoSolar (JKS) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of JinkoSolar (NYSE:JKS) from a strong sell rating to a hold rating in a report published on Tuesday.
According to Zacks, “JinkoSolar Holding Co., Ltd. is a solar product manufacturer with operations based in Jiangxi Province and Zhejiang Province in China. JinkoSolar has built a vertically integrated solar product value chain from recovered silicon materials to solar modules. JinkoSolar’s principal products are silicon wafers, solar cells and solar modules which are all along the photovoltaic value chain, with a global network spanning across Europe, North America and Asia. “
JKS has been the topic of several other reports. Roth Capital upgraded JinkoSolar from a sell rating to a neutral rating and set a $12.00 target price on the stock in a report on Wednesday, June 27th. TheStreet downgraded JinkoSolar from a c rating to a d+ rating in a report on Tuesday, June 26th. Finally, Citigroup upgraded JinkoSolar from a sell rating to a neutral rating in a report on Tuesday, August 14th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $17.00.
JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Monday, August 13th. The semiconductor company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). The firm had revenue of $915.91 million during the quarter, compared to analysts’ expectations of $909.54 million. JinkoSolar had a return on equity of 1.89% and a net margin of 0.58%. The business’s revenue for the quarter was down 21.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 earnings per share. On average, equities analysts forecast that JinkoSolar will post 2.34 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. Guggenheim Capital LLC raised its holdings in shares of JinkoSolar by 23.9% during the 1st quarter. Guggenheim Capital LLC now owns 1,025,515 shares of the semiconductor company’s stock valued at $18,716,000 after buying an additional 197,532 shares during the period. Dimensional Fund Advisors LP grew its stake in JinkoSolar by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 794,151 shares of the semiconductor company’s stock valued at $10,941,000 after purchasing an additional 18,591 shares in the last quarter. BlackRock Inc. grew its position in shares of JinkoSolar by 20.1% in the 2nd quarter. BlackRock Inc. now owns 767,537 shares of the semiconductor company’s stock worth $10,570,000 after acquiring an additional 128,716 shares in the last quarter. Commerzbank Aktiengesellschaft FI grew its position in shares of JinkoSolar by 25.1% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 345,531 shares of the semiconductor company’s stock worth $4,758,000 after acquiring an additional 69,391 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of JinkoSolar by 39.6% in the 1st quarter. Handelsbanken Fonder AB now owns 186,844 shares of the semiconductor company’s stock worth $3,410,000 after acquiring an additional 53,046 shares in the last quarter. Institutional investors and hedge funds own 25.43% of the company’s stock.
JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products in the People's Republic of China and internationally. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots.
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