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Daqo New Energy (DQ) Stock Moves -1.19%: What You Should Know
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Daqo New Energy (DQ - Free Report) closed the most recent trading day at $44.18, moving -1.19% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.21%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.49%.
Heading into today, shares of the solar panel parts maker had gained 3.71% over the past month, lagging the Basic Materials sector's gain of 7.06% and the S&P 500's gain of 5.85% in that time.
Wall Street will be looking for positivity from Daqo New Energy as it approaches its next earnings report date. This is expected to be April 21, 2022. The company is expected to report EPS of $6.29, up 482.41% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.15 billion, up 347.87% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.86 per share and revenue of $3.16 billion, which would represent changes of +81.32% and +88.13%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Daqo New Energy. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.85% higher. Daqo New Energy currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Daqo New Energy currently has a Forward P/E ratio of 2.5. Its industry sports an average Forward P/E of 14.85, so we one might conclude that Daqo New Energy is trading at a discount comparatively.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 40% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Daqo New Energy (DQ) Stock Moves -1.19%: What You Should Know
Daqo New Energy (DQ - Free Report) closed the most recent trading day at $44.18, moving -1.19% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.21%. Meanwhile, the Dow lost 0.33%, and the Nasdaq, a tech-heavy index, lost 0.49%.
Heading into today, shares of the solar panel parts maker had gained 3.71% over the past month, lagging the Basic Materials sector's gain of 7.06% and the S&P 500's gain of 5.85% in that time.
Wall Street will be looking for positivity from Daqo New Energy as it approaches its next earnings report date. This is expected to be April 21, 2022. The company is expected to report EPS of $6.29, up 482.41% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.15 billion, up 347.87% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $17.86 per share and revenue of $3.16 billion, which would represent changes of +81.32% and +88.13%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Daqo New Energy. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.85% higher. Daqo New Energy currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Daqo New Energy currently has a Forward P/E ratio of 2.5. Its industry sports an average Forward P/E of 14.85, so we one might conclude that Daqo New Energy is trading at a discount comparatively.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 40% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.