JinkoSolar Holding Co., Ltd. (NYSE:JKS) Given Consensus Recommendation of “Reduce” by Brokerages

JinkoSolar Holding Co., Ltd. (NYSE:JKS) has received an average rating of “Reduce” from the six brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $24.60.

JKS has been the topic of a number of research analyst reports. Roth Mkm lowered their target price on JinkoSolar from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group reduced their target price on shares of JinkoSolar from $21.00 to $18.00 and set a “sell” rating for the company in a report on Tuesday, September 3rd.

Institutional Investors Weigh In On JinkoSolar

A number of large investors have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its position in shares of JinkoSolar by 1.8% in the second quarter. Mackenzie Financial Corp now owns 2,572,177 shares of the semiconductor company’s stock worth $53,296,000 after buying an additional 44,661 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of JinkoSolar by 372.9% in the 1st quarter. GSA Capital Partners LLP now owns 77,349 shares of the semiconductor company’s stock valued at $1,948,000 after acquiring an additional 60,992 shares in the last quarter. Marshall Wace LLP lifted its holdings in JinkoSolar by 49.5% in the 2nd quarter. Marshall Wace LLP now owns 447,709 shares of the semiconductor company’s stock worth $9,277,000 after purchasing an additional 148,268 shares during the last quarter. SG Americas Securities LLC boosted its position in JinkoSolar by 16.0% during the second quarter. SG Americas Securities LLC now owns 21,321 shares of the semiconductor company’s stock worth $442,000 after purchasing an additional 2,939 shares during the period. Finally, Decade Renewable Partners LP acquired a new position in JinkoSolar during the second quarter valued at approximately $4,272,000. 35.82% of the stock is currently owned by institutional investors.

JinkoSolar Stock Up 4.2 %

JinkoSolar stock opened at $24.02 on Monday. The company’s 50-day moving average price is $20.69 and its two-hundred day moving average price is $22.69. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 3.75 and a beta of 0.43. JinkoSolar has a 52 week low of $16.70 and a 52 week high of $38.65. The company has a current ratio of 1.08, a quick ratio of 0.79 and a debt-to-equity ratio of 0.76.

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

JinkoSolar Announces Dividend

The firm also recently declared a Variable dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a dividend of $1.50 per share. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 15.6%. JinkoSolar’s dividend payout ratio is currently 46.18%.

About JinkoSolar

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.