Q2 2024 EPS Estimates for JinkoSolar Holding Co., Ltd. (NYSE:JKS) Reduced by Analyst

JinkoSolar Holding Co., Ltd. (NYSE:JKS) – Roth Capital lowered their Q2 2024 earnings per share (EPS) estimates for JinkoSolar in a research report issued on Monday, April 29th. Roth Capital analyst P. Shen now anticipates that the semiconductor company will post earnings of $0.05 per share for the quarter, down from their previous forecast of $0.26. Roth Capital has a “Neutral” rating on the stock. The consensus estimate for JinkoSolar’s current full-year earnings is $3.84 per share. Roth Capital also issued estimates for JinkoSolar’s Q3 2024 earnings at $0.74 EPS and FY2024 earnings at ($0.37) EPS.

JinkoSolar (NYSE:JKS) last issued its earnings results on Wednesday, March 20th. The semiconductor company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by ($1.11). The firm had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.08 billion. JinkoSolar had a return on equity of 11.12% and a net margin of 2.74%.

A number of other analysts have also weighed in on the company. HSBC reissued a “hold” rating and set a $30.00 price objective on shares of JinkoSolar in a research note on Monday, February 5th. Roth Mkm reissued a “neutral” rating and set a $25.00 price target on shares of JinkoSolar in a research report on Tuesday. StockNews.com upgraded shares of JinkoSolar from a “sell” rating to a “hold” rating in a research report on Friday. Daiwa Capital Markets lowered shares of JinkoSolar from an “outperform” rating to a “neutral” rating and set a $25.00 target price for the company. in a report on Monday, February 5th. Finally, UBS Group cut their target price on JinkoSolar from $31.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $26.60.

JinkoSolar Trading Up 2.6 %

Shares of JKS stock opened at $26.19 on Thursday. The business has a 50-day moving average of $24.90 and a 200 day moving average of $28.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.03 and a quick ratio of 0.80. JinkoSolar has a 1-year low of $21.06 and a 1-year high of $48.82. The stock has a market capitalization of $1.37 billion, a PE ratio of 4.09 and a beta of 0.38.

Institutional Investors Weigh In On JinkoSolar

A number of large investors have recently modified their holdings of JKS. Mackenzie Financial Corp grew its holdings in shares of JinkoSolar by 22.6% during the 3rd quarter. Mackenzie Financial Corp now owns 2,678,032 shares of the semiconductor company’s stock worth $78,895,000 after acquiring an additional 493,976 shares during the period. Invesco Ltd. boosted its holdings in shares of JinkoSolar by 10.0% during the 3rd quarter. Invesco Ltd. now owns 1,657,885 shares of the semiconductor company’s stock valued at $50,350,000 after buying an additional 150,262 shares in the last quarter. Vanguard Group Inc. grew its position in shares of JinkoSolar by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,554,356 shares of the semiconductor company’s stock worth $47,206,000 after buying an additional 27,438 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of JinkoSolar by 16.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 661,563 shares of the semiconductor company’s stock worth $24,445,000 after acquiring an additional 92,737 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position 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 valued at $19,276,000 after acquiring an additional 195,300 shares during the period. Institutional investors own 35.82% of the company’s stock.

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.