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

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

Daqo New Energy Price Performance

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

Analyst Upgrades and Downgrades

Separately, Daiwa Capital Markets reaffirmed an “underperform” rating and issued a $25.00 price target 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 issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.