🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

JinkoSolar (JKS) Upped To Strong Buy On Solid Performance

Published 05/27/2016, 06:18 AM
Updated 07/09/2023, 06:31 AM
JASO
-
YGEHY
-
JKS
-
SOL
-

On May 27, Zacks Investment Research upgraded JinkoSolar Holding Co., Ltd. (NYSE:JKS) to a Zacks Rank #1 (Strong Buy).

Why the Upgrade?

JinkoSolar has been witnessing rising estimates on the back of consistently strong performance. This solar company reported positive earnings surprises in all of the last four quarters with an average beat of 58.59%. The long-term earnings growth is pegged at 20.0%. JinkoSolar is scheduled to release first-quarter 2016 earnings today.

The company’s solar module shipments in the fourth quarter of 2015 increased 58.6% year over year to 1,709 .9 megawatts (MW). Thanks to its high-quality modules, JinkoSolar keeps on receiving domestic as well as international contracts. JinkoSolar expects module shipments in the range of 1.3 Gigawatts (GW) to 1.4 GW in the first quarter.

Usage of alternate sources of energy, primarily solar, is set to rise on a global scale. China is aiming to produce 143 GW of solar power by 2020, while its neighbor India aims to add 100 GW of solar energy by 2022. Japan is also aiming to add substantial solar energy to its power generation mix.

Booming growth opportunities in Asia could drive the performance of a host of Chinese solar companies like JinkoSolar, Yingli Green Energy Holding (NYSE:YGE) , JA Solar Holdings (NASDAQ:JASO) and ReneSola Ltd. (NYSE:SOL) among others.

For JinkoSolar, solid performances have driven the Zacks Consensus Estimate for 2016 up 3.7% to $5.08 per share over the last 60 days. For 2017, the Zacks Consensus Estimate climbed 2.1% to $5.83 per share, over the same time frame.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

JA SOLAR HOLDGS (JASO): Free Stock Analysis Report

RENESOLA LT-ADR (SOL): Free Stock Analysis Report

JINKOSOLAR HLDG (JKS): Free Stock Analysis Report

YINGLI GREEN EN (YGE): Free Stock Analysis Report

Original post

Zacks Investment Research

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.