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Daqo New Energy (DQ) Gains As Market Dips: What You Should Know
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In the latest trading session, Daqo New Energy (DQ - Free Report) closed at $70.15, marking a +0.94% move from the previous day. This move outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.28%.
Heading into today, shares of the solar panel parts maker had gained 21.76% over the past month, outpacing the Basic Materials sector's loss of 17.94% and the S&P 500's gain of 1.51% in that time.
Wall Street will be looking for positivity from Daqo New Energy as it approaches its next earnings report date. In that report, analysts expect Daqo New Energy to post earnings of $6.46 per share. This would mark year-over-year growth of 113.2%. Meanwhile, our latest consensus estimate is calling for revenue of $1.07 billion, up 142.88% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.88 per share and revenue of $3.91 billion, which would represent changes of +152.59% and +132.7%, respectively, from the prior year.
Any recent changes to analyst estimates for Daqo New Energy should also be noted by investors. 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.
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. The Zacks Consensus EPS estimate has moved 9.97% higher within the past month. Daqo New Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Daqo New Energy is holding a Forward P/E ratio of 2.79. This represents a discount compared to its industry's average Forward P/E of 13.63.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Gains As Market Dips: What You Should Know
In the latest trading session, Daqo New Energy (DQ - Free Report) closed at $70.15, marking a +0.94% move from the previous day. This move outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.46%, and the tech-heavy Nasdaq lost 0.28%.
Heading into today, shares of the solar panel parts maker had gained 21.76% over the past month, outpacing the Basic Materials sector's loss of 17.94% and the S&P 500's gain of 1.51% in that time.
Wall Street will be looking for positivity from Daqo New Energy as it approaches its next earnings report date. In that report, analysts expect Daqo New Energy to post earnings of $6.46 per share. This would mark year-over-year growth of 113.2%. Meanwhile, our latest consensus estimate is calling for revenue of $1.07 billion, up 142.88% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.88 per share and revenue of $3.91 billion, which would represent changes of +152.59% and +132.7%, respectively, from the prior year.
Any recent changes to analyst estimates for Daqo New Energy should also be noted by investors. 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.
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. The Zacks Consensus EPS estimate has moved 9.97% higher within the past month. Daqo New Energy is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Daqo New Energy is holding a Forward P/E ratio of 2.79. This represents a discount compared to its industry's average Forward P/E of 13.63.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.