JinkoSolar Holding Co Ltd $ 26.26 1.76 (7.18%)
JinkoSolar Holding Co Ltd News and Headlines -
Shares of Canada-based clean energy company Canadian Solar Inc. (CSIQ) gained more than 13% on Friday after an analyst rating report from GLJ Research tipped the stock to outperform expectations in the coming months.
It has now added more than 145% to its market value since bottoming on March 16. Overall, shares of Canadian Solar are up 44% this year, which clearly outperforms the S&P 500 Index's gain of about 7.6%.
The company has received several analyst ratings before, but GLJ focuses on the solar sector. It looks like investors took its latest rating to heart.
Tech growth investors may want to consider the following stocks, as they have improved their quarterly revenue and net income tremendously on a year over year basis.
JinkoSolar Holding Co Ltd
The first company to consider is JinkoSolar Holding Co Ltd (JKS), a Chinese producer of photovoltaic products.
The company saw its quarterly revenue grow by 45.7% year-over-year to 8.48 billion Chinese yuan ($1.2 billion) as of the first quarter of 2020, up from 5.82 billion Yuan in the first quarter of 2019. The net income grew by more than six-fold to 282.44 million Yuan, up
JinkoSolar Holding Co. (JKS) released its first quarter results before the opening bell on June 15. While the company’s earnings were below Wall Street’s estimates, revenue surpassed projections.
Snapshot of the quarter
The Shangrao, China-based company registered adjusted earnings of 65 cents per share in the first quarter, up 441.7% from the prior-year quarter. Analysts had anticipated earnings of $1 per share. Revenue of $1.2 billion was ahead of Wall Street’s expectations of $1.03 billion and grew roughly 38% over the past year.
During the quarter, the company witnessed higher solar module shipments to the tune of 3,411 milliwatts.
U.S. stocks were in the red on Monday morning ahead of new data that showed rising Covid-19 cases in the U.S. and around the world. The Dow Jones Industrial Average fell 2.93% to 24,854, the S&P 500 index declined 2.48% to 2,996 and the Nasdaq Composite Index was down 1.93% to 9,404.
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Canadian Solar Inc. (CSIQ) posted impressive earnings results after it beat analysts' expectations for revenue and earnings for the third time in four quarters. The company announced its fiscal first-quarter results before the market opened on Thursday.
The company’s share price pulled back more than 5.4% after Dr. Shawn Qu, the chairman and CEO, issued a cautious statement about the outlook for the second half of the year amid the Covid-19 pandemic.
“While COVID-19's impact on the demand for our products and services was limited in the first quarter, we
U.S. stocks advanced on Monday morning after last week's severe decline in the three main indexes, an approximately 4% drop. The Dow Jones Industrial Average jumped more than 360 points to 24,650, the S&P 500 index advanced 1.32% to 2,667 and the Nasdaq Composite Index gained 1.50% to 7,042.
Shares of Jinko Solar Holding Co. Ltd. (JKS) jumped more than 13% on Monday after the company reported earnings of 76 cents per share on $974.78 million in revenue. The company beat revenue expectations by $58.25 million.
Sales were supported by an increase in the shipment of solar modules, despite a
Jinko Solar (JKS)
Jinko Solar is the world’s largest solar module manufacturer with 15,000 employees in 23 countries generating over $4 billion on the top-line in the last 12 months.
Last September, the company’s stock was trading north of $30 a share. Today, it’s under $18 thanks to U.S. trade tariff proposals and higher capital expenditures.
However, over the last decade JinkoSolar has done extradoinarily well, earning over $500 million in net profit, and the future will be even more profitable with solar technology helping make solar cheaper than traditional energy as soon as 2020 based on some analyst estimates.
With President Trump placing Rex Tillerson as secretary of State and reviving the Dakota Access Pipeline, he seems pro coal, oil and natural gas - what I call dirty energy. Even with the environmentally conscious Elon Musk as an adviser, the president will likely continue to push the oil and gas industry’s agenda. I think this will actually work in the favor of solar over the long term, as no one will stop the expansion of the industry.
Global estimates are that grid-connected solar installations grew 50% last year. The U.S. installed 4,143 megawatts of solar photovoltaic (PV) cells in
JinkoSolar (JKS) closed the fiscal year 2014 on a strong note. It posted fourth-quarter revenue of $478.9 million, an uptick of 35.8% over the same period in 2013. The record module shipments of 1,078.3 MW coupled with 339.1 MW for its downstream business helped the company to display outstanding performance for the quarter. Its gross margin expanded to 22.8% from 20.6% in the third-quarter 2014. It shipped approximately 3 GW of solar products in 2014.
Better times ahead
Looking ahead, the Chinese solar panel producer plans to ramp up the production for PV modules that should earn the company gross