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JinkoSolar (JKS) Stock Sinks As Market Gains: What You Should Know
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JinkoSolar (JKS - Free Report) closed at $56.39 in the latest trading session, marking a -1.36% move from the prior day. This change lagged the S&P 500's daily gain of 1.47%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 7.94%.
Prior to today's trading, shares of the solar power product maker had gained 35.99% over the past month. This has outpaced the Oils-Energy sector's gain of 1.59% and the S&P 500's gain of 7.41% in that time.
JinkoSolar will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.45, up 116.42% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.76 billion, up 46.22% from the year-ago period.
It is also important to note the recent changes to analyst estimates for JinkoSolar. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 15.45% higher. JinkoSolar is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, JinkoSolar is holding a Forward P/E ratio of 8.01. For comparison, its industry has an average Forward P/E of 37.53, which means JinkoSolar is trading at a discount to the group.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow JKS in the coming trading sessions, be sure to utilize Zacks.com.
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JinkoSolar (JKS) Stock Sinks As Market Gains: What You Should Know
JinkoSolar (JKS - Free Report) closed at $56.39 in the latest trading session, marking a -1.36% move from the prior day. This change lagged the S&P 500's daily gain of 1.47%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 7.94%.
Prior to today's trading, shares of the solar power product maker had gained 35.99% over the past month. This has outpaced the Oils-Energy sector's gain of 1.59% and the S&P 500's gain of 7.41% in that time.
JinkoSolar will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.45, up 116.42% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.76 billion, up 46.22% from the year-ago period.
It is also important to note the recent changes to analyst estimates for JinkoSolar. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 15.45% higher. JinkoSolar is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, JinkoSolar is holding a Forward P/E ratio of 8.01. For comparison, its industry has an average Forward P/E of 37.53, which means JinkoSolar is trading at a discount to the group.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow JKS in the coming trading sessions, be sure to utilize Zacks.com.