JinkoSolar (NYSE:JKS) Announces Earnings Results, Misses Expectations By $0.55 EPS

JinkoSolar (NYSE:JKS) posted its earnings results on Wednesday. The semiconductor company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.55), Zacks reports. JinkoSolar had a return on equity of 4.18% and a net margin of 0.53%. The business had revenue of $20.65 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The business’s quarterly revenue was down 37.1% on a year-over-year basis.

JinkoSolar Stock Performance

NYSE JKS opened at $20.12 on Friday. The business’s 50-day moving average price is $21.78 and its 200 day moving average price is $23.13. The company has a current ratio of 1.22, a quick ratio of 0.97 and a debt-to-equity ratio of 0.81. JinkoSolar has a twelve month low of $16.70 and a twelve month high of $37.36. The company has a market capitalization of $1.07 billion, a PE ratio of 34.10 and a beta of 0.40.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Daiwa Capital Markets cut JinkoSolar from an “underperform” rating to a “sell” rating in a research note on Friday, January 10th. Jefferies Financial Group lifted their price objective on shares of JinkoSolar from $36.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. The Goldman Sachs Group cut their target price on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a report on Thursday. Glj Research lowered their price target on JinkoSolar from $13.08 to $10.95 and set a “sell” rating on the stock in a research report on Thursday, January 23rd. Finally, UBS Group reduced their price target on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $27.19.

About JinkoSolar

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.