Daqo New Energy (NYSE:DQ) Announces Quarterly 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 for the quarter, missing analysts’ consensus estimates 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 in the previous year, the firm posted $3.52 earnings per share.

Daqo New Energy Price Performance

Shares of Daqo New Energy stock opened at $21.55 on Tuesday. Daqo New Energy has a 1 year low of $17.30 and a 1 year high of $48.31. The firm’s 50-day moving average is $24.55 and its 200 day moving average is $23.84. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 3.98 and a beta of 0.22.

Analyst Upgrades and Downgrades

Separately, Daiwa Capital Markets reissued an “underperform” rating and issued a $25.00 price target on shares of Daqo New Energy in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.23.

About Daqo New Energy

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.