Goldman Sachs Group Initiates Coverage on JinkoSolar (JKS)

Goldman Sachs Group started coverage on shares of JinkoSolar (NYSE:JKS) in a research note published on Tuesday, MarketBeat.com reports. The firm issued a sell rating and a $16.00 price objective on the semiconductor company’s stock.

JKS has been the subject of a number of other reports. Zacks Investment Research upgraded shares of JinkoSolar from a strong sell rating to a hold rating in a research report on Thursday, November 23rd. Roth Capital upped their price target on shares of JinkoSolar from $18.00 to $26.00 and gave the company a neutral rating in a research report on Tuesday, September 26th. Axiom Securities assumed coverage on shares of JinkoSolar in a research report on Thursday, September 21st. They issued a sell rating and a $10.00 price target for the company. Finally, ValuEngine cut shares of JinkoSolar from a buy rating to a hold rating in a research report on Saturday, December 9th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $18.86.

JinkoSolar (NYSE:JKS) traded down $0.18 during mid-day trading on Tuesday, reaching $24.59. 431,458 shares of the company were exchanged, compared to its average volume of 388,358. The firm has a market cap of $806.19, a PE ratio of 4.90, a price-to-earnings-growth ratio of 2.19 and a beta of 1.90. JinkoSolar has a twelve month low of $13.70 and a twelve month high of $30.50. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.77 and a current ratio of 1.02.

JinkoSolar (NYSE:JKS) last released its quarterly earnings data on Thursday, December 7th. The semiconductor company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.13). The company had revenue of $964.80 million for the quarter, compared to analyst estimates of $849.17 million. JinkoSolar had a return on equity of 3.99% and a net margin of 4.36%. JinkoSolar’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 earnings per share. analysts predict that JinkoSolar will post 0.77 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in JKS. BNP Paribas Arbitrage SA increased its position in JinkoSolar by 35.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 23,097 shares of the semiconductor company’s stock valued at $480,000 after acquiring an additional 6,080 shares during the period. JPMorgan Chase & Co. acquired a new position in JinkoSolar in the 2nd quarter valued at approximately $377,000. Teachers Advisors LLC acquired a new position in JinkoSolar in the 2nd quarter valued at approximately $2,018,000. TIAA CREF Investment Management LLC increased its position in JinkoSolar by 1,601.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 314,700 shares of the semiconductor company’s stock valued at $6,546,000 after acquiring an additional 296,200 shares during the period. Finally, Granite Point Capital Management L.P. acquired a new stake in shares of JinkoSolar during the second quarter worth $208,000. Hedge funds and other institutional investors own 21.34% 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.

Analyst Recommendations for JinkoSolar (NYSE:JKS)

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