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Daqo New Energy (DQ) Outpaces Stock Market Gains: What You Should Know
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Daqo New Energy (DQ - Free Report) closed at $57.91 in the latest trading session, marking a +1.6% move from the prior day. This move outpaced the S&P 500's daily gain of 1.15%.
Coming into today, shares of the solar panel parts maker had lost 11.55% in the past month. In that same time, the Basic Materials sector lost 7.85%, while the S&P 500 lost 4.67%.
Investors will be hoping for strength from DQ as it approaches its next earnings release. The company is expected to report EPS of $3.29, up 1118.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $517.5 million, up 312.25% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.95 per share and revenue of $1.6 billion. These totals would mark changes of +478.49% and +137.17%, respectively, from last year.
Any recent changes to analyst estimates for DQ should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. DQ is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, DQ currently has a Forward P/E ratio of 5.73. For comparison, its industry has an average Forward P/E of 18.62, which means DQ is trading at a discount to the group.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% 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.
To follow DQ in the coming trading sessions, be sure to utilize Zacks.com.
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Daqo New Energy (DQ) Outpaces Stock Market Gains: What You Should Know
Daqo New Energy (DQ - Free Report) closed at $57.91 in the latest trading session, marking a +1.6% move from the prior day. This move outpaced the S&P 500's daily gain of 1.15%.
Coming into today, shares of the solar panel parts maker had lost 11.55% in the past month. In that same time, the Basic Materials sector lost 7.85%, while the S&P 500 lost 4.67%.
Investors will be hoping for strength from DQ as it approaches its next earnings release. The company is expected to report EPS of $3.29, up 1118.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $517.5 million, up 312.25% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $9.95 per share and revenue of $1.6 billion. These totals would mark changes of +478.49% and +137.17%, respectively, from last year.
Any recent changes to analyst estimates for DQ should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. DQ is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, DQ currently has a Forward P/E ratio of 5.73. For comparison, its industry has an average Forward P/E of 18.62, which means DQ is trading at a discount to the group.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 80, which puts it in the top 32% 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.
To follow DQ in the coming trading sessions, be sure to utilize Zacks.com.