JinkoSolar (NYSE:JKS) Announces Quarterly Earnings Results, Misses Estimates By $0.55 EPS

JinkoSolar (NYSE:JKS) announced its quarterly earnings results on Wednesday. The semiconductor company reported ($1.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55), Zacks reports. The company had revenue of $20.65 billion during the quarter, compared to analyst estimates of $3.38 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The company’s revenue was down 37.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share.

JinkoSolar Trading Down 2.0 %

Shares of JKS stock traded down $0.41 during trading on Thursday, hitting $20.12. 808,728 shares of the stock traded hands, compared to its average volume of 1,020,426. The firm has a market capitalization of $1.07 billion, a P/E ratio of 34.10 and a beta of 0.40. JinkoSolar has a 52-week low of $16.70 and a 52-week high of $37.36. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97. The firm’s fifty day moving average price is $21.85 and its 200-day moving average price is $23.15.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on JKS shares. Jefferies Financial Group increased their price target on JinkoSolar from $36.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Glj Research cut their price target on shares of JinkoSolar from $13.08 to $10.95 and set a “sell” rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group decreased their price objective on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Thursday. UBS Group reduced their price target on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Daiwa Capital Markets downgraded JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $27.19.

JinkoSolar Company Profile

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.