JinkoSolar (JKS) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of JinkoSolar (NYSE:JKS) from a buy rating to a sell rating in a report issued on Wednesday.
According to Zacks, “JinkoSolar Holding Co., Ltd. is a solar product manufacturer with operations based in Jiangxi Province and Zhejiang Province in China. JinkoSolar has built a vertically integrated solar product value chain from recovered silicon materials to solar modules. JinkoSolar’s principal products are silicon wafers, solar cells and solar modules which are all along the photovoltaic value chain, with a global network spanning across Europe, North America and Asia. “
Other analysts have also recently issued reports about the company. ValuEngine cut JinkoSolar from a buy rating to a hold rating in a research report on Saturday, December 9th. Vertical Research started coverage on JinkoSolar in a research report on Friday, February 2nd. They set a sell rating for the company. Vertical Group started coverage on JinkoSolar in a research report on Friday, February 2nd. They set a sell rating for the company. Finally, Goldman Sachs Group assumed coverage on JinkoSolar in a research report on Tuesday, January 9th. They set a sell rating and a $16.00 price target for the company. Seven investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company presently has a consensus rating of Sell and an average target price of $19.14.
JinkoSolar (NYSE:JKS) last issued its quarterly earnings results on Thursday, December 7th. The semiconductor company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.13). JinkoSolar had a return on equity of 3.99% and a net margin of 4.36%. The firm had revenue of $964.80 million for the quarter, compared to analysts’ expectations of $849.17 million. During the same quarter in the previous year, the firm posted $1.40 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. analysts predict that JinkoSolar will post 0.77 EPS for the current fiscal year.
Large investors have recently modified their holdings of the business. Advisor Group Inc. grew its holdings in JinkoSolar by 20,995.0% in the 3rd quarter. Advisor Group Inc. now owns 4,219 shares of the semiconductor company’s stock valued at $105,000 after buying an additional 4,199 shares in the last quarter. Quantbot Technologies LP purchased a new stake in JinkoSolar in the 3rd quarter valued at $139,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in JinkoSolar in the 3rd quarter valued at $162,000. GRATRY & Co LLC purchased a new stake in JinkoSolar in the 3rd quarter valued at $259,000. Finally, SG Americas Securities LLC grew its holdings in JinkoSolar by 22.3% in the 3rd quarter. SG Americas Securities LLC now owns 11,500 shares of the semiconductor company’s stock valued at $287,000 after buying an additional 2,100 shares in the last quarter. Institutional investors own 21.30% of the company’s stock.
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JinkoSolar Company Profile
JinkoSolar Holding Co, Ltd. operates in the photovoltaic (PV) industry. The Company has built a vertically integrated solar power product value chain, from recovering silicon materials to manufacturing solar modules and solar power generation. The Company’s segments include the manufacturing segment and the solar power projects segment.
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