Brokerages Set JinkoSolar Holding Co., Ltd. (NYSE:JKS) Price Target at $24.60

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) have been assigned an average rating of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $24.60.

Several research firms recently issued reports on JKS. The Goldman Sachs Group dropped their price objective on JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a research note on Tuesday, September 3rd. Roth Mkm dropped their price target on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Finally, StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Wednesday, September 18th.

Institutional Investors Weigh In On JinkoSolar

A number of large investors have recently modified their holdings of the stock. Headlands Technologies LLC increased its stake in JinkoSolar by 607.7% during the 2nd quarter. Headlands Technologies LLC now owns 4,048 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 3,476 shares in the last quarter. Barometer Capital Management Inc. purchased a new stake in JinkoSolar in the fourth quarter worth about $126,000. Daiwa Securities Group Inc. increased its holdings in JinkoSolar by 117.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the semiconductor company’s stock worth $191,000 after acquiring an additional 4,100 shares in the last quarter. Banco BTG Pactual S.A. bought a new stake in shares of JinkoSolar during the 1st quarter valued at $207,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of JinkoSolar by 43.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 11,659 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 3,521 shares in the last quarter. Institutional investors own 35.82% of the company’s stock.

JinkoSolar Price Performance

JKS opened at $24.02 on Monday. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 7.85 and a beta of 0.43. The company has a quick ratio of 0.79, a current ratio of 1.08 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $20.69 and a 200-day moving average price of $22.70. JinkoSolar has a twelve month low of $16.70 and a twelve month high of $38.65.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings results on Friday, August 30th. The semiconductor company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.92. The company had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.85 billion. JinkoSolar had a return on equity of 7.86% and a net margin of 1.65%. Equities analysts expect that JinkoSolar will post -0.42 EPS for the current year.

JinkoSolar Announces Dividend

The firm also recently announced a Variable dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a $1.50 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a dividend yield of 15.6%. JinkoSolar’s payout ratio is presently 96.73%.

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.