A better buy-in window may exist right now for JinkoSolar Holding Co. Ltd. (JKS)

JinkoSolar Holding Co. Ltd. (NYSE: JKS) stock jumped 2.02% on Friday to $56.67 against a previous-day closing price of $55.55. With 1.19 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.09 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $58.49 whereas the lowest price it dropped to was $56.25. The 52-week range on JKS shows that it touched its highest point at $76.92 and its lowest point at $35.41 during that stretch. It currently has a 1-year price target of $61.36. Beta for the stock currently stands at 0.80.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of JKS was down-trending over the past week, with a drop of -3.34%, but this was up by 9.76% over a month. Three-month performance surged to 22.96% while six-month performance fell -7.96%. The stock gained 24.55% in the past year, while it has gained 38.63% so far this year. A look at the trailing 12-month EPS for JKS yields 0.40 with Next year EPS estimates of 5.68. For the next quarter, that number is 1.21. This implies an EPS growth rate of 172.20% for this year and 56.90% for next year. EPS is expected to grow by 72.41% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -11.20%.

Float and Shares Shorts:

At present, 50.12 million JKS shares are outstanding with a float of 43.87 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.45 million, which was 4.88% higher than short shares on Sep 14, 2022. In addition to Mr. Xiande Li as the firm’s Co-Founder, CEO & Chairman, Mr. Kangping Chen serves as its Co-Founder & Director.

Institutional Ownership:

Through their ownership of 55.79% of JKS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 25.63% of JKS, in contrast to 21.35% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in JKS with 3.67% of the stake, Schroder Investment Management holds 1,837,405 shares worth 1,837,405. A second-largest stockholder of JKS, Invesco Capital Management LLC, holds 1,788,925 shares, controlling over 3.57% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in JKS, holding 1,604,229 shares or 3.20% stake. With a 2.45% stake in JKS, the Invesco Solar ETF is the largest stakeholder. A total of 1,227,685 shares are owned by the mutual fund manager. The Schroder ISF – Emerging Asia, which owns about 1.95% of JKS stock, is the second-largest Mutual Fund holder. It holds 978,694 shares valued at 40.01 million. Mackenzie Greenchip Global Enviro holds 1.94% of the stake in JKS, owning 973,665 shares worth 39.8 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for JKS since 9 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With JKS analysts setting a high price target of $596.01 and a low target of $275.77, the average target price over the next 12 months is $466.05. Based on these targets, JKS could surge 951.72% to reach the target high and rise by 386.62% to reach the target low. Reaching the average price target will result in a growth of 722.39% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. JKS will report FY 2022 earnings on 03/20/2024. Analysts have provided yearly estimates in a range of $33.95 being high and -$3.05 being low. For JKS, this leads to a yearly average estimate of $20.62. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. JinkoSolar Holding Co. Ltd. surprised analysts by -$0.30 when it reported $0.38 EPS against a consensus estimate of $0.67. The surprise factor in the prior quarter was -$0.49. Based on analyst estimates, the high estimate for the next quarter is $11.65 and the low estimate is $2.25. The average estimate for the next quarter is thus $7.69.

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