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Is DAQO New Energy (DQ) Outperforming Other Basic Materials Stocks This Year?
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The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Daqo New Energy (DQ - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Daqo New Energy is a member of the Basic Materials sector. This group includes 244 individual stocks and currently holds a Zacks Sector Rank of #16. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Daqo New Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DQ's full-year earnings has moved 11.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, DQ has returned 25.8% so far this year. In comparison, Basic Materials companies have returned an average of -17.2%. This shows that Daqo New Energy is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Ryerson Holding . The stock has returned 11% year-to-date.
The consensus estimate for Ryerson Holding's current year EPS has increased 6.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Daqo New Energy belongs to the Chemical - Specialty industry, a group that includes 35 individual stocks and currently sits at #199 in the Zacks Industry Rank. On average, this group has lost an average of 32.2% so far this year, meaning that DQ is performing better in terms of year-to-date returns.
Ryerson Holding, however, belongs to the Steel - Producers industry. Currently, this 24-stock industry is ranked #220. The industry has moved -16.6% so far this year.
Investors with an interest in Basic Materials stocks should continue to track Daqo New Energy and Ryerson Holding. These stocks will be looking to continue their solid performance.
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Is DAQO New Energy (DQ) Outperforming Other Basic Materials Stocks This Year?
The Basic Materials group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Daqo New Energy (DQ - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Daqo New Energy is a member of the Basic Materials sector. This group includes 244 individual stocks and currently holds a Zacks Sector Rank of #16. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Daqo New Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DQ's full-year earnings has moved 11.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, DQ has returned 25.8% so far this year. In comparison, Basic Materials companies have returned an average of -17.2%. This shows that Daqo New Energy is outperforming its peers so far this year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Ryerson Holding . The stock has returned 11% year-to-date.
The consensus estimate for Ryerson Holding's current year EPS has increased 6.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Daqo New Energy belongs to the Chemical - Specialty industry, a group that includes 35 individual stocks and currently sits at #199 in the Zacks Industry Rank. On average, this group has lost an average of 32.2% so far this year, meaning that DQ is performing better in terms of year-to-date returns.
Ryerson Holding, however, belongs to the Steel - Producers industry. Currently, this 24-stock industry is ranked #220. The industry has moved -16.6% so far this year.
Investors with an interest in Basic Materials stocks should continue to track Daqo New Energy and Ryerson Holding. These stocks will be looking to continue their solid performance.