Brokerages Set JinkoSolar Holding Company Limited (NYSE:JKS) PT at $24.38

Shares of JinkoSolar Holding Company Limited (NYSE:JKS) have earned a consensus rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $24.3750.

Several research analysts recently commented on JKS shares. Daiwa Securities Group raised JinkoSolar from a “sell” rating to a “buy” rating and set a $28.50 price objective for the company in a research note on Tuesday, March 24th. Weiss Ratings cut JinkoSolar from a “hold (c-)” rating to a “sell (d)” rating in a report on Wednesday, May 6th. Freedom Capital upgraded JinkoSolar from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 17th. UBS Group lifted their price objective on JinkoSolar from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Wall Street Zen raised JinkoSolar from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd.

JinkoSolar Stock Performance

Shares of JKS stock opened at $15.88 on Friday. JinkoSolar has a 52-week low of $15.33 and a 52-week high of $31.88. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 1.16. The stock has a market cap of $831.64 million, a PE ratio of -1.63 and a beta of 0.51. The business has a 50-day simple moving average of $21.18 and a 200-day simple moving average of $24.32.

JinkoSolar (NYSE:JKS) last posted its earnings results on Wednesday, April 29th. The semiconductor company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.84) by $0.32. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $2.09 billion. JinkoSolar had a negative return on equity of 9.52% and a negative net margin of 5.62%. On average, equities analysts expect that JinkoSolar will post -2.76 EPS for the current year.

JinkoSolar Announces Dividend

The business also recently declared an annual dividend, which will be paid on Thursday, July 9th. Stockholders of record on Monday, June 22nd will be issued a dividend of $1.50 per share. This represents a dividend yield of 837.0%. The ex-dividend date is Monday, June 22nd. JinkoSolar’s payout ratio is currently -15.20%.

Insider Activity

In other news, Director Wing Keong Siew sold 16,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $16.49, for a total transaction of $263,840.00. Following the transaction, the director owned 170,000 shares of the company’s stock, valued at approximately $2,803,300. The trade was a 8.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Xianhua Li sold 1,280,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $25.53, for a total transaction of $32,678,400.00. Following the completion of the transaction, the director owned 10,349,612 shares in the company, valued at $264,225,594.36. The trade was a 11.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,312,000 shares of company stock worth $33,360,000. Corporate insiders own 19.80% of the company’s stock.

Institutional Investors Weigh In On JinkoSolar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise grew its stake in JinkoSolar by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 3,079 shares of the semiconductor company’s stock worth $78,000 after buying an additional 839 shares during the last quarter. Trexquant Investment LP lifted its stake in JinkoSolar by 2.1% in the fourth quarter. Trexquant Investment LP now owns 42,378 shares of the semiconductor company’s stock valued at $1,094,000 after buying an additional 889 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in JinkoSolar by 7.7% in the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 17,065 shares of the semiconductor company’s stock valued at $440,000 after buying an additional 1,219 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of JinkoSolar in the second quarter valued at approximately $47,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of JinkoSolar by 18.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 17,600 shares of the semiconductor company’s stock valued at $454,000 after acquiring an additional 2,700 shares during the period. Institutional investors and hedge funds own 35.82% of the company’s stock.

About JinkoSolar

JinkoSolar Holding Co, Ltd. (NYSE: JKS) is a vertically integrated solar photovoltaic (PV) manufacturer headquartered in Shanghai, China. The company specializes in the design, development and production of high-performance solar modules, silicon wafers, solar cells and related components. Since its founding in 2006, JinkoSolar has become one of the world’s largest solar module suppliers, known for delivering reliable products to utility, commercial and residential customers.

JinkoSolar’s product portfolio encompasses a broad range of monocrystalline and polycrystalline PV modules, including half-cell, bifacial and high-efficiency Tiger module series.