JinkoSolar (NYSE:JKS) Trading Down 8.3% – Should You Sell?

JinkoSolar Holding Co., Ltd. (NYSE:JKS) shares were down 8.3% during mid-day trading on Tuesday . The stock traded as low as $18.22 and last traded at $18.43. Approximately 171,040 shares traded hands during trading, a decline of 83% from the average daily volume of 1,035,213 shares. The stock had previously closed at $20.09.

Wall Street Analysts Forecast Growth

JKS has been the subject of several recent analyst reports. Citigroup downgraded JinkoSolar from a “buy” rating to a “sell” rating in a research note on Monday, May 5th. The Goldman Sachs Group dropped their target price on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a research report on Thursday, March 27th. Finally, UBS Group reduced their price target on shares of JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, JinkoSolar presently has a consensus rating of “Hold” and a consensus price target of $27.19.

JinkoSolar Price Performance

The company has a market cap of $979.76 million, a P/E ratio of 32.28 and a beta of 0.18. The firm’s 50-day moving average is $17.87 and its two-hundred day moving average is $21.08. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.22 and a quick ratio of 0.97.

JinkoSolar (NYSE:JKS) last released its quarterly earnings results on Tuesday, April 29th. The semiconductor company reported ($2.85) earnings per share for the quarter, missing the consensus estimate of ($1.45) by ($1.40). The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. JinkoSolar had a net margin of 0.53% and a return on equity of 4.18%. The business’s quarterly revenue was down 39.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.34 EPS. Analysts anticipate that JinkoSolar Holding Co., Ltd. will post -0.24 earnings per share for the current year.

JinkoSolar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 2nd will be paid a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.82%. The ex-dividend date is Wednesday, July 2nd. JinkoSolar’s payout ratio is currently -29.48%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Banque Cantonale Vaudoise purchased a new stake in JinkoSolar in the first quarter worth $36,000. CANADA LIFE ASSURANCE Co purchased a new stake in JinkoSolar in the 4th quarter valued at about $55,000. SBI Securities Co. Ltd. bought a new position in JinkoSolar in the 4th quarter worth about $119,000. New York State Common Retirement Fund purchased a new position in shares of JinkoSolar during the fourth quarter worth approximately $132,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of JinkoSolar by 502.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company’s stock worth $102,000 after acquiring an additional 4,562 shares during the period. Institutional investors 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.