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
Daqo New Energy (DQ - Free Report) closed at $56.41 in the latest trading session, marking a +0.05% move from the prior day. This move lagged the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.2%.
Coming into today, shares of the solar panel parts maker had lost 10.61% in the past month. In that same time, the Basic Materials sector lost 8.82%, while the S&P 500 lost 9.94%.
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 $6.87 per share, which would represent 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 $27.33 per share and revenue of $4.2 billion, which would represent changes of +177.46% and +150.34%, respectively, from the prior year.
Any recent changes to analyst estimates for Daqo New Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 remained stagnant within the past month. Daqo New Energy is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Daqo New Energy is holding a Forward P/E ratio of 2.06. This valuation marks a discount compared to its industry's average Forward P/E of 12.77.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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
Daqo New Energy (DQ - Free Report) closed at $56.41 in the latest trading session, marking a +0.05% move from the prior day. This move lagged the S&P 500's daily gain of 0.69%. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq lost 0.2%.
Coming into today, shares of the solar panel parts maker had lost 10.61% in the past month. In that same time, the Basic Materials sector lost 8.82%, while the S&P 500 lost 9.94%.
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 $6.87 per share, which would represent 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 $27.33 per share and revenue of $4.2 billion, which would represent changes of +177.46% and +150.34%, respectively, from the prior year.
Any recent changes to analyst estimates for Daqo New Energy should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 remained stagnant within the past month. Daqo New Energy is holding a Zacks Rank of #1 (Strong Buy) right now.
Looking at its valuation, Daqo New Energy is holding a Forward P/E ratio of 2.06. This valuation marks a discount compared to its industry's average Forward P/E of 12.77.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 55, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.