Daqo New Energy (NYSE:DQ) Announces Quarterly Earnings Results

Daqo New Energy (NYSE:DQ) released its quarterly earnings data on Monday. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.32), RTT News reports. Daqo New Energy had a return on equity of 6.42% and a net margin of 18.24%. During the same quarter last year, the business posted $3.52 earnings per share.

Daqo New Energy Price Performance

Daqo New Energy stock opened at $21.55 on Tuesday. The firm’s fifty day moving average price is $24.55 and its 200 day moving average price is $23.84. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 3.98 and a beta of 0.22. Daqo New Energy has a 12-month low of $17.30 and a 12-month high of $48.31.

Analyst Upgrades and Downgrades

Separately, Daiwa Capital Markets reiterated an “underperform” rating and issued a $25.00 target price on shares of Daqo New Energy in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.23.

Daqo New Energy Company Profile

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufacturers in the People's Republic of China. Its products are used in ingots, wafers, cells, and modules for solar power solutions. The company was formerly known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.