JinkoSolar Holding (JKS) received a “buy” reiteration today from securities research analysts at investment firm Collins Stewart. The firm hower slightly cut their performance outlook for JinkoSolar by adjusting their price target from $34.50 to $32.50 dollars. Stewart noted that despite their target cut that the company is still their ‘top pick’ of solar companies. The cut they said was due to reduced EPS forecast since module prices are on a decline coupled with polysilicon prices being reduced as well. Stewart believes that JKS is currently valued at a discount in comparison to its competition.
JKS has attempted to gain traction on the market for most of 2011 trading to date. Shares of JKS consolidated from late February through early June while trying to find direction. While JKS is still trading at an overall gain this year, it has not “been pretty.” Still, it is undeniably better than the alternative, unless a trader has short-positions placed.
JinkoSolar is slated to release their next earnings report on August 15th, 2011, and is estimated to post EPS of $1.59. Their last earnings report was released on May 2nd, 2011, and announced EPS of $2.10 with revenue totaling $326.7 million dollars. JKS is currently trading below its 50 & 200-day moving averages and 2011 is currently an up year for the company.
JinkoSolar Holding Company Limited is a vertically-integrated solar power product manufacturer with low-cost operations based in Jiangxi Province and Zhejiang Province in China. They build vertically-integrated solar power product value chain from recovered silicon materials to solar modules. The company has market capitalization of $329,492,880 and 13,329,000 shares outstanding. JKS has a 52-week high of $41.75 with the low being $9.66 dollars.