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Daqo New Energy (DQ) Gains But Lags Market: What You Should Know
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In the latest trading session, Daqo New Energy (DQ - Free Report) closed at $46.04, marking a +0.79% move from the previous day. This move lagged the S&P 500's daily gain of 1.43%. Meanwhile, the Dow gained 1.02%, and the Nasdaq, a tech-heavy index, added 0.32%.
Prior to today's trading, shares of the solar panel parts maker had gained 16.86% over the past month. This has outpaced the Basic Materials sector's gain of 12.42% and the S&P 500's gain of 5.65% in that time.
Investors will be hoping for strength from Daqo New Energy as it approaches its next earnings release. The company is expected to report EPS of $6.29, up 482.41% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.15 billion, up 347.87% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.88 per share and revenue of $2.84 billion. These totals would mark changes of +71.37% and +69.31%, respectively, from last 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 17.69% higher within the past month. Daqo New Energy is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Daqo New Energy is currently trading at a Forward P/E ratio of 2.71. This valuation marks a discount compared to its industry's average Forward P/E of 15.8.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $46.04, marking a +0.79% move from the previous day. This move lagged the S&P 500's daily gain of 1.43%. Meanwhile, the Dow gained 1.02%, and the Nasdaq, a tech-heavy index, added 0.32%.
Prior to today's trading, shares of the solar panel parts maker had gained 16.86% over the past month. This has outpaced the Basic Materials sector's gain of 12.42% and the S&P 500's gain of 5.65% in that time.
Investors will be hoping for strength from Daqo New Energy as it approaches its next earnings release. The company is expected to report EPS of $6.29, up 482.41% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.15 billion, up 347.87% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $16.88 per share and revenue of $2.84 billion. These totals would mark changes of +71.37% and +69.31%, respectively, from last 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 17.69% higher within the past month. Daqo New Energy is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Daqo New Energy is currently trading at a Forward P/E ratio of 2.71. This valuation marks a discount compared to its industry's average Forward P/E of 15.8.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.