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Daqo New Energy (DQ) Gains As Market Dips: What You Should Know
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In the latest trading session, Daqo New Energy (DQ - Free Report) closed at $44.48, marking a +1.55% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 10.92%.
Coming into today, shares of the solar panel parts maker had lost 2.45% in the past month. In that same time, the Basic Materials sector gained 7.22%, while the S&P 500 gained 2.18%.
Wall Street will be looking for positivity from Daqo New Energy as it approaches its next earnings report date. On that day, Daqo New Energy is projected to report earnings of $7.02 per share, which would represent year-over-year growth of 261.86%. Meanwhile, our latest consensus estimate is calling for revenue of $1.13 billion, up 184.52% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Daqo New Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.73% lower. Daqo New Energy is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Daqo New Energy's current valuation metrics, including its Forward P/E ratio of 1.72. This represents a discount compared to its industry's average Forward P/E of 13.81.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 144, putting it in the bottom 43% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Daqo New Energy (DQ) Gains As Market Dips: What You Should Know
In the latest trading session, Daqo New Energy (DQ - Free Report) closed at $44.48, marking a +1.55% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 10.92%.
Coming into today, shares of the solar panel parts maker had lost 2.45% in the past month. In that same time, the Basic Materials sector gained 7.22%, while the S&P 500 gained 2.18%.
Wall Street will be looking for positivity from Daqo New Energy as it approaches its next earnings report date. On that day, Daqo New Energy is projected to report earnings of $7.02 per share, which would represent year-over-year growth of 261.86%. Meanwhile, our latest consensus estimate is calling for revenue of $1.13 billion, up 184.52% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Daqo New Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.73% lower. Daqo New Energy is currently a Zacks Rank #5 (Strong Sell).
Investors should also note Daqo New Energy's current valuation metrics, including its Forward P/E ratio of 1.72. This represents a discount compared to its industry's average Forward P/E of 13.81.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 144, putting it in the bottom 43% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.