Although it beat the estimated, the results were worse than a year ago, which probably caused concern for some investors.
Thestreet is completely wrong. They switch per share data with ADR. You should read the ADR data, ignore chinese shares. I think it is 1:4. So 0.32 per share means 1.28 per ADR.
They know they can play with any domestic company listed in US market and pour money into it and dump it and do this over again and again with the help of SEC and believe it or not this govt is helping them in all ways they can to support their greedy easy money ....
sadly this is how stocks trade these days. They don't trade on news or logic. They just make crazy moves for no reason...and then go the other way when you least expect it.
I've seen him do that to Trina before. Give congrats on a great quarter. Now I'm gonna spend the next 4 quarters telling you how awful you are!
Analyst estimates are wide and varied. I doesn't make much sense to look at the analyst estimates. Analysts are often times wrong and it's not always clear if the estimates are GAAP, non-GAAP, basic or diluted! It is not a huge thing if an analyst estimate (the average) is beaten or missed. The actual results can be found on the earnings report. What matters are the figures Jinko Solar has reported. You can draw your own conclusions based on those figures. The non-GAAP basic earnings per share was $1.28.
So the release this morning tauted earnings at $1.02, and The Street reported earnings of $0.32. And earnings a year ago at $1.04, although yahoo finance puts year ago at $1.32. So I'm just wondering, is their a better internet available site to get reliable information other than Yahoo Finance?
exactly. and that is why this going up tomorrow and probably by end of day and next week. This will be back at $28 in two weeks, maybe sooner.
I agree with that. They are just letting people in. This is going up tomorrow and next week. Great quarter.
That's true. Yeah, perhaps the stock price at $25 was already "too high, too fast" to some people's taste and the price going to $28 would've been disastrous for some people. So, they decided to sell the stock short... and pick up the shares this cheap. There nothing like a +10% profit going down and another +10 % profit going up. A return of +20 % in a single day, just by manipulating the market (causing an overreaction) that gives many people an idea that the results were bad and people should sell. The ones who know better pick the shares this cheap and ride it to $30 and over. I don't know if that's fair.
If I elaborate:
There are only two ways in the world to finance projects: equity and debt. I believe Jinko has some debt, but the company also uses debt, because it's almost unheard of to finance projects using 100 % equity. So, Jinko uses also debt. Often times the equity-debt ratio is something like 20 % equity and 80 % debt. So, if Jinko has $20M equity, it takes out loans worth $80M to build a $100M project. There is no interest paid on equity, but debt comes with interest. So, the amount of debt on Jinko's balance sheet grows and the interest expenses grow with it. Jinko tries to minimize the interest expense, of course, so it issued convertible notes that carry a low interest rate. Nothing negative has happened, really. The projects get built and Jinko gets a return on capital every project. All the projects Jinko builds are profitable, otherwise those wouldn't be built and no debt would not be taken.
Yet even the diluted EPS beat estimates. That coupled with very strong forward guidance, strong balance sheet, strong backing, etc... So, the market is either extremely wrong and irrational or there is foul play going on. My guess - it centers on relieving as many retail/individual investors of their shares as possible at these prices.