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Daqo New Energy (DQ) Stock Moves -1.25%: What You Should Know
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In the latest trading session, Daqo New Energy (DQ - Free Report) closed at $43.37, marking a -1.25% move from the previous day. This change was narrower than the S&P 500's 1.38% loss on the day. At the same time, the Dow lost 1.26%, and the tech-heavy Nasdaq lost 5.67%.
Coming into today, shares of the solar panel parts maker had gained 0.27% in the past month. In that same time, the Basic Materials sector lost 1.48%, while the S&P 500 gained 3.87%.
Investors will be hoping for strength from Daqo New Energy as it approaches its next earnings release. On that day, Daqo New Energy is projected to report earnings of $7.02 per share, which would represent year-over-year growth of 261.86%. Meanwhile, our latest consensus estimate is calling for revenue of $1.13 billion, up 184.52% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Daqo New Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Daqo New Energy currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Daqo New Energy is currently trading at a Forward P/E ratio of 1.72. This valuation marks a discount compared to its industry's average Forward P/E of 14.89.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 222, which puts it in the bottom 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Daqo New Energy (DQ) Stock Moves -1.25%: What You Should Know
In the latest trading session, Daqo New Energy (DQ - Free Report) closed at $43.37, marking a -1.25% move from the previous day. This change was narrower than the S&P 500's 1.38% loss on the day. At the same time, the Dow lost 1.26%, and the tech-heavy Nasdaq lost 5.67%.
Coming into today, shares of the solar panel parts maker had gained 0.27% in the past month. In that same time, the Basic Materials sector lost 1.48%, while the S&P 500 gained 3.87%.
Investors will be hoping for strength from Daqo New Energy as it approaches its next earnings release. On that day, Daqo New Energy is projected to report earnings of $7.02 per share, which would represent year-over-year growth of 261.86%. Meanwhile, our latest consensus estimate is calling for revenue of $1.13 billion, up 184.52% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Daqo New Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Daqo New Energy currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Daqo New Energy is currently trading at a Forward P/E ratio of 1.72. This valuation marks a discount compared to its industry's average Forward P/E of 14.89.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 222, which puts it in the bottom 12% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.