Daqo New Energy (NYSE:DQ) Announces Earnings Results

Daqo New Energy (NYSE:DQ) posted its quarterly earnings results on Monday. The semiconductor company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32), RTT News reports. The company had revenue of $415.31 million during the quarter, compared to the consensus estimate of $491.90 million. Daqo New Energy had a return on equity of 2.46% and a net margin of 7.84%. During the same quarter in the previous year, the company posted $3.52 earnings per share.

Daqo New Energy Price Performance

NYSE:DQ opened at $19.20 on Wednesday. Daqo New Energy has a 1-year low of $17.30 and a 1-year high of $48.31. The company has a 50-day moving average of $24.55 and a 200 day moving average of $23.84. The firm has a market cap of $1.26 billion, a PE ratio of 9.01 and a beta of 0.22.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DQ shares. Daiwa Capital Markets restated an “underperform” rating and issued a $25.00 price target on shares of Daqo New Energy in a report on Friday, March 15th. Roth Mkm restated a “neutral” rating and issued a $23.00 price target on shares of Daqo New Energy in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Daqo New Energy currently has an average rating of “Hold” and an average price target of $32.93.

Daqo New Energy Company Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.