In the latest trading session, JinkoSolar (JKS - Free Report) closed at $23.41, marking a +0.6% move from the previous day. This change outpaced the S&P 500's 0.3% gain on the day. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.42%.
Heading into today, shares of the solar power product maker had gained 23.38% over the past month, outpacing the Oils-Energy sector's loss of 1.46% and the S&P 500's gain of 2.2% in that time.
JKS will be looking to display strength as it nears its next earnings release, which is expected to be June 28, 2019. On that day, JKS is projected to report earnings of $0.23 per share, which would represent year-over-year growth of 360%. Our most recent consensus estimate is calling for quarterly revenue of $895.40 million, up 22.98% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.98 per share and revenue of $4.43 billion. These totals would mark changes of +81.71% and +18.46%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for JKS. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. JKS is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, JKS is holding a Forward P/E ratio of 7.81. Its industry sports an average Forward P/E of 18.7, so we one might conclude that JKS is trading at a discount comparatively.
Also, we should mention that JKS has a PEG ratio of 0.39. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Solar stocks are, on average, holding a PEG ratio of 0.81 based on yesterday's closing prices.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 73, putting it in the top 29% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.