Roth Capital Equities Analysts Reduce Earnings Estimates for JinkoSolar Holding Co., Ltd. (NYSE:JKS)

JinkoSolar Holding Co., Ltd. (NYSE:JKS) – Analysts at Roth Capital lowered their Q2 2024 earnings per share estimates for shares of JinkoSolar in a research report issued to clients and investors on Monday, April 29th. Roth Capital analyst P. Shen now forecasts that the semiconductor company will post earnings per share of $0.05 for the quarter, down from their previous estimate of $0.26. Roth Capital has a “Neutral” rating on the stock. The consensus estimate for JinkoSolar’s current full-year earnings is $5.27 per share. Roth Capital also issued estimates for JinkoSolar’s Q3 2024 earnings at $0.74 EPS and FY2024 earnings at ($0.37) EPS.

Other research analysts also recently issued reports about the stock. Daiwa Capital Markets downgraded shares of JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a report on Monday, February 5th. The Goldman Sachs Group dropped their target price on shares of JinkoSolar from $26.00 to $23.00 and set a “sell” rating on the stock in a report on Thursday, April 11th. Roth Mkm reiterated a “neutral” rating and issued a $25.00 price target on shares of JinkoSolar in a research note on Tuesday. StockNews.com cut JinkoSolar from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Finally, HSBC reaffirmed a “hold” rating and set a $30.00 price objective on shares of JinkoSolar in a report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, JinkoSolar has an average rating of “Hold” and a consensus target price of $26.60.

JinkoSolar Trading Up 4.1 %

JKS opened at $25.10 on Thursday. The stock has a market cap of $1.32 billion, a PE ratio of 3.92 and a beta of 0.38. The company has a quick ratio of 0.80, a current ratio of 1.03 and a debt-to-equity ratio of 0.56. JinkoSolar has a twelve month low of $21.06 and a twelve month high of $49.20. The company has a fifty day moving average of $24.93 and a 200-day moving average of $29.00.

JinkoSolar (NYSE:JKS) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor company reported $1.21 EPS for the quarter, missing the consensus estimate of $2.32 by ($1.11). JinkoSolar had a net margin of 2.74% and a return on equity of 11.12%. The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.08 billion.

Institutional Trading of JinkoSolar

Several hedge funds have recently added to or reduced their stakes in JKS. Mackenzie Financial Corp grew its position in shares of JinkoSolar by 22.6% in the 3rd quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock valued at $78,895,000 after buying an additional 493,976 shares during the last quarter. National Bank of Canada FI boosted its position in shares of JinkoSolar by 494.1% in the 4th quarter. National Bank of Canada FI now owns 284,400 shares of the semiconductor company’s stock valued at $9,948,000 after purchasing an additional 236,526 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in JinkoSolar by 44.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 634,700 shares of the semiconductor company’s stock worth $19,276,000 after buying an additional 195,300 shares during the last quarter. Invesco Ltd. increased its position in JinkoSolar by 10.0% during the third quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock worth $50,350,000 after buying an additional 150,262 shares during the period. Finally, Trexquant Investment LP lifted its stake in JinkoSolar by 257.5% in the third quarter. Trexquant Investment LP now owns 144,230 shares of the semiconductor company’s stock valued at $4,380,000 after buying an additional 103,883 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

JinkoSolar Company Profile

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.