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Daqo New Energy (DQ) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Daqo New Energy (DQ - Free Report) closed at $37.17, marking a -1.61% move from the previous day. This move lagged the S&P 500's daily loss of 0.37%.
Heading into today, shares of the solar panel parts maker had lost 5.76% over the past month, lagging the Basic Materials sector's loss of 4.24% and outpacing the S&P 500's loss of 6.01% in that time.
Wall Street will be looking for positivity from Daqo New Energy as it approaches its next earnings report date. On that day, Daqo New Energy is projected to report earnings of $2.34 per share, which would represent year-over-year growth of 143.75%. Meanwhile, our latest consensus estimate is calling for revenue of $510.3 million, up 105.99% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Daqo New Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.17% higher. Daqo New Energy is currently a Zacks Rank #3 (Hold).
Digging into valuation, Daqo New Energy currently has a Forward P/E ratio of 2.68. This valuation marks a discount compared to its industry's average Forward P/E of 16.18.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Daqo New Energy (DQ) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Daqo New Energy (DQ - Free Report) closed at $37.17, marking a -1.61% move from the previous day. This move lagged the S&P 500's daily loss of 0.37%.
Heading into today, shares of the solar panel parts maker had lost 5.76% over the past month, lagging the Basic Materials sector's loss of 4.24% and outpacing the S&P 500's loss of 6.01% in that time.
Wall Street will be looking for positivity from Daqo New Energy as it approaches its next earnings report date. On that day, Daqo New Energy is projected to report earnings of $2.34 per share, which would represent year-over-year growth of 143.75%. Meanwhile, our latest consensus estimate is calling for revenue of $510.3 million, up 105.99% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Daqo New Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.17% higher. Daqo New Energy is currently a Zacks Rank #3 (Hold).
Digging into valuation, Daqo New Energy currently has a Forward P/E ratio of 2.68. This valuation marks a discount compared to its industry's average Forward P/E of 16.18.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.