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

Daqo New Energy (NYSE:DQ) issued 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. Daqo New Energy had a return on equity of 2.46% and a net margin of 7.84%. The business had revenue of $415.31 million for the quarter, compared to analyst estimates of $491.90 million. During the same quarter last year, the firm earned $3.52 earnings per share.

Daqo New Energy Price Performance

Shares of Daqo New Energy stock opened at $18.76 on Thursday. Daqo New Energy has a 1 year low of $17.30 and a 1 year high of $47.50. The business has a 50-day moving average of $24.56 and a two-hundred day moving average of $23.75. The company has a market capitalization of $1.23 billion, a P/E ratio of 8.81 and a beta of 0.32.

Wall Street Analyst Weigh In

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