JinkoSolar Holding Co. (JKS) Releases Earnings Results, Beats Estimates By $0.85 EPS
JinkoSolar Holding Co. (NYSE:JKS) issued its quarterly earnings data on Wednesday. The company reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.85. JinkoSolar Holding had a net margin of 5.49% and a return on equity of 35.45%. The business earned $855.30 million during the quarter, compared to analysts’ expectations of $749.37 million. During the same period last year, the company posted $1.04 EPS. The company’s revenue was up 34.1% on a year-over-year basis.
JinkoSolar Holding (NYSE:JKS) opened at 14.63 on Thursday. The firm has a market cap of $460.71 million, a price-to-earnings ratio of 2.82 and a beta of 2.33. JinkoSolar Holding has a one year low of $12.92 and a one year high of $29.50. The firm has a 50 day moving average of $15.75 and a 200-day moving average of $18.52.
Several hedge funds have recently added to or reduced their stakes in JKS. Numeric Investors LLC increased its stake in JinkoSolar Holding by 120.3% in the second quarter. Numeric Investors LLC now owns 899,208 shares of the company’s stock worth $18,326,000 after buying an additional 491,126 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in JinkoSolar Holding during the second quarter worth approximately $6,669,000. Prudential Financial Inc. increased its stake in JinkoSolar Holding by 132.3% in the second quarter. Prudential Financial Inc. now owns 358,700 shares of the company’s stock worth $7,311,000 after buying an additional 204,300 shares during the last quarter. Kleinwort Benson Investors Dublin Ltd acquired a new stake in JinkoSolar Holding during the second quarter worth approximately $4,148,000. Finally, Top Ace Asset Management Ltd acquired a new stake in JinkoSolar Holding during the third quarter worth approximately $2,370,000. Institutional investors and hedge funds own 19.63% of the company’s stock.
JKS has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of JinkoSolar Holding from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Craig Hallum initiated coverage on shares of JinkoSolar Holding in a research report on Tuesday, November 8th. They set a “buy” rating and a $36.00 target price on the stock. Morgan Stanley set a $27.20 target price on shares of JinkoSolar Holding and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Credit Suisse Group AG decreased their target price on shares of JinkoSolar Holding from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, August 18th. Finally, Roth Capital restated a “neutral” rating and set a $18.00 target price on shares of JinkoSolar Holding in a research report on Friday, August 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.24.
About JinkoSolar Holding
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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