We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Daqo New Energy (DQ) Gains But Lags Market: What You Should Know
Read MoreHide Full Article
In the latest trading session, Daqo New Energy (DQ - Free Report) closed at $48.37, marking a +1.79% move from the previous day. This move lagged the S&P 500's daily gain of 2.37%. Meanwhile, the Dow gained 2.47%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Coming into today, shares of the solar panel parts maker had lost 7.98% in the past month. In that same time, the Basic Materials sector lost 3.01%, while the S&P 500 lost 4.82%.
Wall Street will be looking for positivity from Daqo New Energy as it approaches its next earnings report date. In that report, analysts expect Daqo New Energy to post earnings of $6.87 per share. This would mark year-over-year growth of 80.31%. Meanwhile, our latest consensus estimate is calling for revenue of $1.1 billion, up 88.59% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $28.58 per share and revenue of $4.32 billion, which would represent changes of +190.15% and +157.41%, respectively, from the prior year.
Any recent changes to analyst estimates for Daqo New Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.57% higher. Daqo New Energy currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Daqo New Energy has a Forward P/E ratio of 1.66 right now. For comparison, its industry has an average Forward P/E of 12.5, which means Daqo New Energy is trading at a discount to the group.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 27% 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.
To follow DQ in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Daqo New Energy (DQ) Gains But Lags Market: What You Should Know
In the latest trading session, Daqo New Energy (DQ - Free Report) closed at $48.37, marking a +1.79% move from the previous day. This move lagged the S&P 500's daily gain of 2.37%. Meanwhile, the Dow gained 2.47%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Coming into today, shares of the solar panel parts maker had lost 7.98% in the past month. In that same time, the Basic Materials sector lost 3.01%, while the S&P 500 lost 4.82%.
Wall Street will be looking for positivity from Daqo New Energy as it approaches its next earnings report date. In that report, analysts expect Daqo New Energy to post earnings of $6.87 per share. This would mark year-over-year growth of 80.31%. Meanwhile, our latest consensus estimate is calling for revenue of $1.1 billion, up 88.59% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $28.58 per share and revenue of $4.32 billion, which would represent changes of +190.15% and +157.41%, respectively, from the prior year.
Any recent changes to analyst estimates for Daqo New Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.57% higher. Daqo New Energy currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Daqo New Energy has a Forward P/E ratio of 1.66 right now. For comparison, its industry has an average Forward P/E of 12.5, which means Daqo New Energy is trading at a discount to the group.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 27% 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.
To follow DQ in the coming trading sessions, be sure to utilize Zacks.com.