Analysts Set JinkoSolar Holding Company Limited (NYSE:JKS) Target Price at $24.38

JinkoSolar Holding Company Limited (NYSE:JKS) has received a consensus rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $24.3750.

Several equities research analysts recently weighed in on JKS shares. UBS Group lifted their price objective on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Wall Street Zen raised shares of JinkoSolar from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Weiss Ratings lowered shares of JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, May 6th. Finally, Freedom Capital upgraded shares of JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th.

Insider Activity at JinkoSolar

In related news, Director Xianhua Li sold 1,280,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total value of $32,678,400.00. Following the completion of the transaction, the director directly owned 10,349,612 shares of the company’s stock, valued at approximately $264,225,594.36. This trade represents a 11.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wing Keong Siew sold 16,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total transaction of $263,840.00. Following the sale, the director directly owned 170,000 shares in the company, valued at $2,803,300. The trade was a 8.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,312,000 shares of company stock valued at $33,360,000. 19.80% of the stock is owned by insiders.

Institutional Trading of JinkoSolar

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in JinkoSolar by 9.9% during the 2nd quarter. Geode Capital Management LLC now owns 37,671 shares of the semiconductor company’s stock worth $799,000 after purchasing an additional 3,394 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in JinkoSolar by 7,759.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,082 shares of the semiconductor company’s stock worth $235,000 after purchasing an additional 10,941 shares during the period. Raymond James Financial Inc. purchased a new position in JinkoSolar during the 2nd quarter valued at about $47,000. Sei Investments Co. purchased a new position in JinkoSolar during the 3rd quarter valued at about $525,000. Finally, Invesco Ltd. increased its position in shares of JinkoSolar by 6.7% during the third quarter. Invesco Ltd. now owns 1,390,315 shares of the semiconductor company’s stock valued at $33,409,000 after buying an additional 87,334 shares during the period. 35.82% of the stock is currently owned by institutional investors.

JinkoSolar Price Performance

Shares of NYSE JKS opened at $15.79 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 1.16. The stock has a fifty day simple moving average of $18.86 and a two-hundred day simple moving average of $23.15. JinkoSolar has a 1-year low of $14.95 and a 1-year high of $31.88. The firm has a market cap of $826.77 million, a price-to-earnings ratio of -1.62 and a beta of 0.51.

JinkoSolar (NYSE:JKS) last issued its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.84) by $0.32. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%.The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.09 billion. Analysts anticipate that JinkoSolar will post -2.76 earnings per share for the current year.

JinkoSolar Dividend Announcement

The firm also recently declared an annual dividend, which was paid on Thursday, July 9th. Investors of record on Monday, June 22nd were paid a dividend of $1.50 per share. This represents a dividend yield of 837.0%. The ex-dividend date was Monday, June 22nd. JinkoSolar’s dividend payout ratio is presently -15.20%.

About JinkoSolar

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.