JinkoSolar (JKS) Stock Declines on Earnings Results

JinkoSolar (JKS) stock is falling in late-afternoon trading on Thursday, following the release of the company's 2015 third quarter earnings results before the market open.
By Rachel Graf ,

NEW YORK (TheStreet) -- JinkoSolar (JKS) - Get Report stock is down by 9.54% to $22.66 in late-afternoon trading on Thursday, after the company reported its 2015 third quarter financial results before the market open today. 

The Shangrao, China-based solar company posted adjusted earnings of RMB 2.03 per ADS, or 32 cents per share. Adjusted earnings declined from RMB 6.52 per ADS, or $1.04 per ADS, for the year ago period. 

Revenue climbed 26.6% year-over-year to RMB 4.1 billion, or $637.6 million, for the quarter ended September 30, 2015.

Analysts had forecast for $1.02 per share on revenue of $561.28 million for the most recent quarter. 

"I am excited to report another strong quarter as our business gained considerable growth momentum," CEO Kangping Chen said in a statement. "With increasing demand for our high-quality solar products, we are raising our full year 2015 third party module shipment guidance from the current 3.4 GW to 3.7 GW, to 3.8 GW to 4.0 GW."

Separately, TheStreet Ratings team rates JINKOSOLAR HOLDING CO as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

We rate JINKOSOLAR HOLDING CO (JKS) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, attractive valuation levels and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally higher debt management risk and poor profit margins.

You can view the full analysis from the report here: JKS

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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