JinkoSolar Releases Earnings On June 20

Jun.15.12 | About: JinkoSolar Holding (JKS)

JinkoSolar Holding Co., Ltd. (NYSE:JKS), together with its subsidiaries, engages in designing, developing, producing, and marketing photovoltaic products in the People's Republic of China and internationally. It offers solar modules, solar cells, mono and multi crystalline silicon ingots and silicon wafers, recovered silicon materials, solar power project development and solar system integration services, and processing services. It is scheduled to report its Q1 2012 results on June 20, 2012, before the market opens.

Recent EPS Actuals vs. Estimates

The company has failed to meet analysts' estimates in the last two quarters. In the last quarter it reported ($2.58) loss per share, failing to meet analyst estimates of ($0.47) loss.

The consensus EPS is ($1.12) loss based on 4 analysts' estimates, down from $2.10 a year ago. Revenue estimates are $156.78M, down from $326.72M a year ago. The median target price by analysts for the stock is $6.00.

Average recommendation: Hold

Source: Marketwatch

Analyst Upgrades and Downgrades

  • On March 9, 2012, the company was upgraded from Sell to Hold at Auriga.

Key Metrics

  • Market Cap: 94.81M
  • 52-week trading range: 3.62 - 27.30
  • Trailing P/E: N/A
  • Forward P/E: -
  • Price/Sales: 0.08
  • Price/Book: 0.21
  • PEG Ratio: -0.16
  • Total Debt: 595.26M
  • Annual dividend yield: N/A
  • Return on Equity: 9.81%
  • Return on Assets: 4.68%

Latest Developments

  • On May 21, 2012, JinkoSolar Holding Co., Ltd. announced it will provide modules for a 50 megawatt (MW) solar project operated by state-owned renewable energy development company GSHHSD in northwestern China.
  • On April 24, 2012, JinkoSolar Holding Co., Ltd. announced that JinkoSolar Co., Ltd., the company's wholly owned subsidiaries, successfully issued unsecured one-year short-term bonds with a principal amount of RMB300 million on April 23, 2012.
  • On February 14, 2012, JinkoSolar Holding Co., Ltd. announced the addition of an Australian subsidiary, JinkoSolar Australia Co; Ltd, based in Queensland, Australia . The newly opened office will serve as a sales and delivery hub and will house approximately 4-5 MW of modules for the region, supporting the company's growth in the photovoltaic industry.


JinkoSolar Holding Co., Ltd. operates in Industrial Electrical Equipment industry. The company could be compared to Canadian Solar Inc. (NASDAQ:CSIQ), Hanwha SolarOne Co., Ltd (HSOL), JA Solar Holdings Co., Ltd. (NASDAQ:JASO), and ReneSola Ltd. (NYSE:SOL).

Below is a comparison of the most important ratios of these companies and the industry:

This is a comparison chart for stock price changes during the one-year period compared with S&P 500 index:

Click to enlarge

JKS ChartClick to enlarge

JKS data by YCharts

Competitors' Latest Development

  • On Jun 7, 2012, Canadian Solar Inc. announced that its subsidiary, Canadian Solar Solutions Inc. and Horizon Energy Solutions Inc., had entered into an Engineering, Procurement and Construction (NYSE:EPC) agreement to construct commercial rooftop solar electricity generating facilities.
  • On May 3, 2012, Canadian Solar Inc. and Bank of China, New York Branch announced that they had signed a ground breaking financing agreement to provide a CAD120 Million construction loan facility for solar power plants in Ontario, Canada.
  • On Apr 17, 2012, Reuters announced that Canadian Solar Inc. will buy majority stake in 16 power projects from SkyPower Ltd for about CAD185 million ($184.7 million) as part of its plan to concentrate on smaller utility scale projects.
  • On Jan 26, 2012, Canadian Solar Inc. announced an agreement with the Al Fahad Group, a diversified conglomerate with expertise in Defense & Intelligence, Homeland Security, Networking & Communications and Power.
  • On Dec 20, 2011, Canadian Solar Inc., one of the solar companies, announced that its wholly owned subsidiary, Canadian Solar Solutions Inc. (OTCPK:CSSI), has entered into a sales agreement with TransCanada Corporation, whereby TransCanada will acquire from Canadian Solar a 86 megawatts AC solar project portfolio for approximately CAD470 million.
  • On Dec 16, 2011, Hanwha SolarOne Co., Ltd. announced that its Board of Directors has appointed Hee Cheol Kim, who is a member of the board and also currently serves as the strategic planning team head of Hanwha Group, as President of Hanwha SolarOne.

Technical Insight

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.