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Is Daqo New Energy (DQ) Outperforming Other Basic Materials Stocks This Year?
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For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Daqo New Energy (DQ - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Daqo New Energy is a member of our Basic Materials group, which includes 244 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Daqo New Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for DQ's full-year earnings has moved 16.6% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, DQ has returned 23.4% so far this year. At the same time, Basic Materials stocks have gained an average of 8.7%. As we can see, Daqo New Energy is performing better than its sector in the calendar year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Teck Resources Ltd (TECK - Free Report) . The stock has returned 39.3% year-to-date.
For Teck Resources Ltd, the consensus EPS estimate for the current year has increased 33% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Daqo New Energy belongs to the Chemical - Specialty industry, which includes 36 individual stocks and currently sits at #155 in the Zacks Industry Rank. On average, stocks in this group have lost 15.9% this year, meaning that DQ is performing better in terms of year-to-date returns.
On the other hand, Teck Resources Ltd belongs to the Mining - Miscellaneous industry. This 50-stock industry is currently ranked #92. The industry has moved +22.1% year to date.
Daqo New Energy and Teck Resources Ltd could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.
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Is Daqo New Energy (DQ) Outperforming Other Basic Materials Stocks This Year?
For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Daqo New Energy (DQ - Free Report) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.
Daqo New Energy is a member of our Basic Materials group, which includes 244 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Daqo New Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for DQ's full-year earnings has moved 16.6% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, DQ has returned 23.4% so far this year. At the same time, Basic Materials stocks have gained an average of 8.7%. As we can see, Daqo New Energy is performing better than its sector in the calendar year.
Another Basic Materials stock, which has outperformed the sector so far this year, is Teck Resources Ltd (TECK - Free Report) . The stock has returned 39.3% year-to-date.
For Teck Resources Ltd, the consensus EPS estimate for the current year has increased 33% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Daqo New Energy belongs to the Chemical - Specialty industry, which includes 36 individual stocks and currently sits at #155 in the Zacks Industry Rank. On average, stocks in this group have lost 15.9% this year, meaning that DQ is performing better in terms of year-to-date returns.
On the other hand, Teck Resources Ltd belongs to the Mining - Miscellaneous industry. This 50-stock industry is currently ranked #92. The industry has moved +22.1% year to date.
Daqo New Energy and Teck Resources Ltd could continue their solid performance, so investors interested in Basic Materials stocks should continue to pay close attention to these stocks.