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

Shares of JinkoSolar Holding Co., Ltd. (NYSE:JKS) were down 8.3% on Tuesday . The stock traded as low as $18.22 and last traded at $18.43. Approximately 171,040 shares changed hands during mid-day 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 research reports. The Goldman Sachs Group decreased their price target on shares of JinkoSolar from $20.00 to $18.00 and set a “sell” rating for the company in a research note on Thursday, March 27th. Citigroup lowered shares of JinkoSolar from a “buy” rating to a “sell” rating in a report on Monday, May 5th. Finally, UBS Group cut their price target on JinkoSolar from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, JinkoSolar presently has an average rating of “Hold” and an average price target of $27.19.

JinkoSolar Price Performance

The firm has a 50-day moving average of $17.87 and a 200-day moving average of $21.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.97 and a current ratio of 1.22. The firm has a market capitalization of $979.76 million, a P/E ratio of 32.28 and a beta of 0.18.

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

JinkoSolar Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in JKS. New York State Common Retirement Fund bought a new stake in JinkoSolar during the 4th quarter worth approximately $132,000. Bank of New York Mellon Corp increased its stake in shares of JinkoSolar by 245.8% in the fourth quarter. Bank of New York Mellon Corp now owns 41,445 shares of the semiconductor company’s stock worth $1,032,000 after purchasing an additional 29,459 shares in the last quarter. Capital Wealth Planning LLC bought a new stake in shares of JinkoSolar during the 4th quarter valued at $752,000. SBI Securities Co. Ltd. purchased a new position in shares of JinkoSolar during the 4th quarter valued at $119,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of JinkoSolar during the 4th quarter valued at $231,000. 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.