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JinkoSolar (JKS) Gains But Lags Market: What You Should Know
JinkoSolar (JKS - Free Report) closed the most recent trading day at $50.30, moving +1.25% from the previous trading session. The stock lagged the S&P 500's daily gain of 1.68%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq lost 1.7%.
Coming into today, shares of the solar power product maker had lost 5.87% in the past month. In that same time, the Oils-Energy sector lost 8.65%, while the S&P 500 lost 6.68%.
JinkoSolar will be looking to display strength as it nears its next earnings release. In that report, analysts expect JinkoSolar to post earnings of $0.85 per share. This would mark year-over-year growth of 750%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.35 billion, up 43.62% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.14 per share and revenue of $16.19 billion, which would represent changes of +37.04% and +31.69%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for JinkoSolar. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate remained stagnant within the past month. JinkoSolar currently has a Zacks Rank of #2 (Buy).
Digging into valuation, JinkoSolar currently has a Forward P/E ratio of 6.96. This represents a discount compared to its industry's average Forward P/E of 33.5.
The Solar industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.