JinkoSolar Holding Co. Ltd. (NYSE:JKS) price on Friday, May 27, fall -2.09% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $58.94.
A look at the stock’s price movement, the close in the last trading session was $60.20, moving within a range at $58.1111 and $61.36. The beta value (5-Year monthly) was 0.97 while the PE ratio in trailing twelve months stood at 37.93. Turning to its 52-week performance, $66.37 and $35.16 were the 52-week high and 52-week low respectively. Overall, JKS moved 10.44% over the past month.
JinkoSolar Holding Co. Ltd.’s market cap currently stands at around $2.88 billion, with investors looking forward to this quarter’s earnings report slated for Apr 07, 2022 – Apr 11, 2022. Analysts project the company’s earnings per share (EPS) to be $0.36, which has seen fiscal year 2022 EPS growth forecast to increase to $3.04 and about $3.92 for fiscal year 2023. Per the data, EPS growth is expected to be 65.20% for 2022 and 28.90% for the next financial year.
Analysts have a consensus estimate of $2.25 billion for the company’s revenue for the quarter, with a low and high estimate of $1.96 billion and $2.33 billion respectively. The average forecast suggests up to a 85.30% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $9.88 billion, representing a 54.30% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that JKS is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
8 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 4 analyst(s) rate the stock as a Hold, 3 recommend JKS as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 1.30, with JKS’s current price about 10.75% and 12.50% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 60.49, while 7-day volatility ratio is 5.58% and 7.28% in the 30-day chart. Further, JinkoSolar Holding Co. Ltd. (JKS) has a beta value of 0.83, and an average true range (ATR) of 3.79. Analysts have given the company’s stock an average 52-week price target of $366.97, forecast between a low of $204.98 and high of $435.40. Looking at the price targets, the low is -247.78% off current price level while to achieve the yearly target high, price needs to move -638.72%. Nonetheless, investors will most likely welcome a -550.68% jump to $383.51 which is the analysts’ median price.
In the market, a comparison of JinkoSolar Holding Co. Ltd. (JKS) and its peers suggest the former has performed considerably weaker. Data shows JKS’s intraday price has changed -2.09% in last session and 60.99% over the past year. Comparatively, Canadian Solar Inc. (CSIQ) has moved 3.27% on the day and only -20.92% in the past 12 months. Looking at another peer, we see that Daqo New Energy Corp. (DQ) price has dipped -2.16% on the day. However, the stock is -36.06% off its price a year ago. Moreover, ReneSola Ltd (SOL) is also up 3.62% in trading on the day while keeping a a downtrend of -40.37% over the past year. If we look at the PE ratio, we find that JinkoSolar Holding Co. Ltd.’s ratio stands at 37.93 compared to Canadian Solar Inc.’s 20.62 and Daqo New Energy Corp.’s 3.03. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 2.47% and 1.76% respectively in the last trading.
If we refocus on JinkoSolar Holding Co. Ltd. (NYSE:JKS), historical trading data shows that trading volumes averaged 1.37 million over the past 3 months. The company’s latest data on shares outstanding shows there are 48.08 million shares.
The 1.00% of JinkoSolar Holding Co. Ltd.’s shares are in the hands of company insiders while institutional holders own 56.50% of the company’s shares. Current price change has pushed the stock 28.24% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the JKS stock continues to rise going into the next quarter.