JinkoSolar Holding Co., Ltd. (JKS) is scheduled to report its Q2 2012 results on August 23, 2012, before market opens. The street expects EPS and revenue of ($1.29) loss and $194.82M, respectively.
In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from JKS and the news from its closest competitors.
Recent EPS Actuals vs. Estimates
The company has failed to meet analysts' estimates in the last three quarters. In the last quarter it reported ($2.55) loss per share, failing to meet analyst estimates of ($1.12) loss.
The consensus EPS estimate is ($1.29) loss based on 4 analysts' estimates, down from $1.38 a year ago. Revenue estimates are $194.82M, down from $350.59M a year ago. The median target price by analysts for the stock is $4.00.
Average recommendation: Hold
Analyst Upgrades and Downgrades
- On March 8, 2012, Auriga upgraded the company from Sell to Hold.
- On June 26, 2012, JinkoSolar Holding Co., Ltd. announced that the Company will supply its modules to a 5.75MW array of solar panels located on the site of the former Canton landfill in Canton, MA. In partnership with Boston-based renewable energy project developer Southern Sky Renewable Energy LLC (SSRE), the project brings life to the two decades-long unused space, serving as a valuable revenue generator and clean power solution for the local community.
- 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.
Canadian Solar (CSIQ), First Solar (FSLR), JA Solar Holdings (JASO), LDK Solar (LDK), and ReneSola (SOL) are considered major competitors for JinkoSolar and the chart below compares the stock price changes as a percentage for the selected companies for the last one year period.
Competitors' Latest Development
- On August 7, 2012, Ja Solar Holdings Co Ltd announced that it has signed a supply agreement with A Shade Greener (ASG), a UK-based PV installer and installer of free solar panels to the residential market in the United Kingdom.
- On August 2, 2012, First Solar, Inc. reported in its Form 8-K that effective July 30, 2012, Mr. Ahearn resigned as an employee of the Company and the Employment Agreement terminated.
- On August 2, 2012, ReneSola Ltd. announced that it has sold 8 MW of high-quality, high-performance monocrystalline solar modules to True Value Solar. Under the terms of the agreement, ReneSola will ship a total of 8 MW of its high-quality, high-performance monocrystalline solar modules directly to True Value Solar's distribution sites in Australia by the end of this month.
- On August 1, 2012, First Solar, Inc. announced that it is increasing fiscal 2012 guidance and expects net sales of $3.6-$3.9 billion, compared to prior guidance of $3.5-$3.8 billion.
- On July 30, 2012, Ja Solar Holdings Co Ltd announced that it entered into a share transfer agreement (the Agreement) on July 23, 2012 with M.SETEK Co., Ltd. (M.SETEK), a polysilicon and solar wafer manufacturer in Japan controlled by AU Optronics Corp.
- On July 23, 2012, ReneSola Ltd. announced that it has sold 5.95 MW of its high-efficiency Virtus modules to Solargain PV Pty Ltd ("Solargain"), one of the top solar distributors in Australia and one of Australia's integrated solar energy and solar hot water suppliers.
- On June 26, 2012, LDK Solar Co Ltd announced that based upon current business conditions for the second quarter of 2012, it estimates revenue to be in the range of $220-$270 million.
- On June 25, 2012, Canadian Solar Inc announced a supply agreement. Under the agreement, Canadian Solar will supply up to 40 MW of high solar modules to Real Goods Solar to power a range of commercial and residential installations in the United States.
- On June 20, 2012, enXco, an EDF Energies Nouvelles Company, announced that they have signed a solar module supply agreement with First Solar Inc. First Solar will deliver 61 megawatts peak (MWp) of thin film modules starting in September 2012 for enXco's Catalina Solar Project located in Kern County, California.
- On June 14, 2012, Ja Solar Holdings Co Ltd announced that Board of Directors has approved a share repurchase program, effective immediately, that authorizes JA Solar to repurchase up to a USD100 million worth of its issued and outstanding American Depositary Shares (ADSs) prior to September 30, 2012.
- On June 11, 2012, First Solar, Inc. and Intermolecular, Inc. announced a collaboration and licensing agreement aimed at accelerating the efficiency roadmap for First Solar's cadmium-telluride (CdTe) photovoltaic (PV) technology.
- On June 7, 2012, Canadian Solar Inc. announced that its subsidiary, Canadian Solar Solutions Inc. and Horizon Energy Solutions Inc., have entered into an Engineering, Procurement and Construction (EPC) agreement to construct commercial rooftop solar electricity generating facilities.
- On June 4, 2012, LDK Solar Co Ltd announced that the Company has signed three multi-year engineering, procurement, and construction (EPC) agreements. All three projects are located in the Gansu province of the People's Republic of China.
The stock has a market capitalization of $54.59M and is currently trading at $2.46 with a 52 week range of $2.00 - $17.47. The stock's year-to-date performance has been -50.80%. It is currently trading below 20, 50 and 200 SMA.
Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.