Credit Suisse Group AG Reiterates Buy Rating for JinkoSolar Holding Co. (JKS)
JinkoSolar Holding Co. (NYSE:JKS)‘s stock had its “buy” rating reaffirmed by stock analysts at Credit Suisse Group AG in a report issued on Monday.
The analysts wrote, “We adjust our 2016/17/18 earnings estimates to $5.43/$2.14/$2.28 due to higher than expected Q4 shipments, faster than expected cost reductions, and lower income from project sales.””
Several other analysts also recently weighed in on the stock. Zacks Investment Research raised shares of JinkoSolar Holding from a “sell” rating to a “hold” rating in a research report on Thursday. Craig Hallum assumed 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. Roth Capital reissued a “neutral” rating and set a $18.00 target price on shares of JinkoSolar Holding in a research report on Thursday, October 13th. Finally, 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $30.24.
Shares of JinkoSolar Holding (NYSE:JKS) traded down 4.6469% on Monday, hitting $12.7201. 339,108 shares of the stock traded hands. JinkoSolar Holding has a 52-week low of $12.72 and a 52-week high of $29.50. The stock’s 50 day moving average price is $15.66 and its 200 day moving average price is $18.44. The stock has a market cap of $400.57 million, a P/E ratio of 2.4481 and a beta of 2.33.
JinkoSolar Holding (NYSE:JKS) last released its earnings results on Wednesday, November 16th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.76. The company had revenue of $855.30 million for the quarter, compared to the consensus estimate of $749.37 million. JinkoSolar Holding had a net margin of 5.28% and a return on equity of 33.72%. JinkoSolar Holding’s revenue was up 34.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. On average, equities analysts expect that JinkoSolar Holding will post $4.80 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Teachers Advisors Inc. acquired a new stake in shares of JinkoSolar Holding during the first quarter valued at approximately $1,470,000. BlackRock Group LTD boosted its position in JinkoSolar Holding by 13.6% in the first quarter. BlackRock Group LTD now owns 77,346 shares of the company’s stock valued at $1,617,000 after buying an additional 9,255 shares in the last quarter. Guinness Asset Management Ltd boosted its position in JinkoSolar Holding by 13.4% in the second quarter. Guinness Asset Management Ltd now owns 8,490 shares of the company’s stock valued at $173,000 after buying an additional 1,000 shares in the last quarter. Bank of Montreal Can purchased a new position in JinkoSolar Holding during the second quarter valued at about $132,000. Finally, Capital Fund Management S.A. purchased a new position in JinkoSolar Holding during the second quarter valued at about $382,000. Institutional investors and hedge funds own 19.92% of the company’s stock.
JinkoSolar Holding 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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