JinkoSolar (JKS) Outpaces Stock Market Gains: What You Should Know
JinkoSolar (JKS) closed at $57.17 in the latest trading session, marking a +1.4% move from the prior day. This move outpaced the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 9.7%.
Heading into today, shares of the solar power product maker had gained 36.48% over the past month, outpacing the Oils-Energy sector's gain of 3.04% and the S&P 500's gain of 6.27% in that time.
Wall Street will be looking for positivity from JinkoSolar as it approaches its next earnings report date. The company is expected to report EPS of $1.45, up 116.42% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.76 billion, up 46.22% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for JinkoSolar. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 15.45% higher within the past month. JinkoSolar is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note JinkoSolar's current valuation metrics, including its Forward P/E ratio of 7.9. For comparison, its industry has an average Forward P/E of 35.11, which means JinkoSolar is trading at a discount to the group.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 39, putting it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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JinkoSolar Holding Company Limited (JKS) : Free Stock Analysis Report
