Daqo New Energy (NYSE:DQ) Posts Quarterly Earnings Results, Misses Estimates By $0.32 EPS

Daqo New Energy (NYSE:DQ) released its quarterly earnings data 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. Daqo New Energy had a return on equity of 2.46% and a net margin of 7.84%. The company had revenue of $415.31 million for the quarter, compared to the consensus estimate of $491.90 million. During the same period last year, the firm earned $3.52 earnings per share.

Daqo New Energy Trading Down 2.6 %

NYSE:DQ traded down $0.50 on Wednesday, reaching $18.70. 414,952 shares of the stock traded hands, compared to its average volume of 1,207,856. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 9.14 and a beta of 0.22. The company’s 50 day moving average is $24.55 and its 200-day moving average is $23.84. Daqo New Energy has a 1-year low of $17.30 and a 1-year high of $47.50.

Analyst Ratings Changes

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

About Daqo New Energy

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.