JinkoSolar (NYSE:JKS) Issues Quarterly Earnings Results, Misses Expectations By $1.78 EPS

JinkoSolar (NYSE:JKS) posted its quarterly earnings data on Wednesday. The semiconductor company reported ($2.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($1.78), Zacks reports. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%.

JinkoSolar Stock Down 3.5%

Shares of JinkoSolar stock opened at $15.60 on Wednesday. The company has a market cap of $816.87 million, a price-to-earnings ratio of -1.60 and a beta of 0.52. The company’s 50 day moving average is $16.30 and its 200 day moving average is $21.27. JinkoSolar has a twelve month low of $14.55 and a twelve month high of $31.88. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16.

JinkoSolar Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Thursday, July 9th. Stockholders of record on Monday, June 22nd were issued a dividend of $1.50 per share. This represents a dividend yield of 837.0%. The ex-dividend date of this dividend was Monday, June 22nd. JinkoSolar’s payout ratio is presently -15.20%.

Insider Transactions at JinkoSolar

In other JinkoSolar news, Director Wing Keong Siew sold 16,000 shares of JinkoSolar stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total value of $263,840.00. Following the completion of the sale, the director owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. The trade was a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 19.80% of the company’s stock.

Institutional Trading of JinkoSolar

Several large investors have recently modified their holdings of the company. Daiwa Securities Group Inc. lifted its stake in JinkoSolar by 18.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 17,600 shares of the semiconductor company’s stock valued at $454,000 after buying an additional 2,700 shares in the last quarter. Cibc World Market Inc. purchased a new stake in JinkoSolar during the 4th quarter worth approximately $338,000. Geode Capital Management LLC raised its holdings in shares of JinkoSolar by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 40,566 shares of the semiconductor company’s stock valued at $1,047,000 after acquiring an additional 3,427 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new position in shares of JinkoSolar during the third quarter valued at approximately $512,000. Finally, Two Sigma Investments LP purchased a new position in shares of JinkoSolar in the third quarter valued at approximately $384,000. Institutional investors own 35.82% of the company’s stock.

Analysts Set New Price Targets

JKS has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of JinkoSolar in a research report on Monday, August 3rd. UBS Group lifted their price target on shares of JinkoSolar from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.38.

About JinkoSolar

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.