Daqo New Energy (NYSE:DQ) Issues Earnings Results, Misses Expectations By $0.32 EPS

Daqo New Energy (NYSE:DQ) announced its quarterly earnings data on Monday. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32), RTT News reports. Daqo New Energy had a net margin of 7.84% and a return on equity of 2.46%. The firm had revenue of $415.31 million during the quarter, compared to the consensus estimate of $491.90 million. During the same quarter in the prior year, the firm posted $3.52 earnings per share.

Daqo New Energy Stock Down 2.3 %

DQ stock opened at $18.76 on Thursday. The firm has a market capitalization of $1.23 billion, a PE ratio of 8.81 and a beta of 0.32. Daqo New Energy has a twelve month low of $17.30 and a twelve month high of $47.50. The stock has a 50-day simple moving average of $24.56 and a two-hundred day simple moving average of $23.75.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DQ. Roth Mkm restated a “neutral” rating and issued a $23.00 price objective on shares of Daqo New Energy in a research note on Tuesday. Daiwa Capital Markets restated an “underperform” rating and issued a $25.00 price objective on shares of Daqo New Energy in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.93.

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.