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

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

JinkoSolar Trading Down 2.0 %

Shares of JinkoSolar stock traded down $0.41 on Thursday, reaching $20.12. The company had a trading volume of 808,728 shares, compared to its average volume of 784,476. The firm’s 50-day moving average price is $21.85 and its two-hundred day moving average price is $23.15. JinkoSolar has a 1 year low of $16.70 and a 1 year high of $37.36. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 34.10 and a beta of 0.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97.

Wall Street Analysts Forecast Growth

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