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.
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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.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
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