Daqo New Energy (NYSE:DQ) Issues Earnings Results

Daqo New Energy (NYSE:DQGet Rating) released its quarterly earnings results on Thursday. The semiconductor company reported $6.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.81 by $0.18, MarketWatch Earnings reports. Daqo New Energy had a return on equity of 48.35% and a net margin of 45.04%. During the same quarter in the prior year, the company posted $1.08 earnings per share.

Daqo New Energy stock traded up $0.60 during trading on Friday, hitting $41.13. The stock had a trading volume of 22,893 shares, compared to its average volume of 1,492,232. Daqo New Energy has a 1 year low of $32.20 and a 1 year high of $92.00. The stock’s 50 day moving average is $43.94 and its two-hundred day moving average is $48.16. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 4.37 and a beta of 0.75.

DQ has been the subject of a number of analyst reports. TheStreet downgraded Daqo New Energy from a “b-” rating to a “c+” rating in a research note on Monday, January 24th. Zacks Investment Research upgraded Daqo New Energy from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Wednesday, February 23rd. Finally, StockNews.com downgraded Daqo New Energy from a “buy” rating to a “hold” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $79.85.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Daqo New Energy by 23.7% during the 4th quarter. BlackRock Inc. now owns 4,988,438 shares of the semiconductor company’s stock valued at $201,133,000 after acquiring an additional 954,938 shares during the period. Morgan Stanley increased its holdings in shares of Daqo New Energy by 101.4% in the second quarter. Morgan Stanley now owns 1,171,353 shares of the semiconductor company’s stock worth $76,161,000 after purchasing an additional 589,693 shares during the period. State Street Corp increased its holdings in shares of Daqo New Energy by 35.3% in the fourth quarter. State Street Corp now owns 1,521,522 shares of the semiconductor company’s stock worth $61,409,000 after purchasing an additional 397,253 shares during the period. Geode Capital Management LLC increased its holdings in shares of Daqo New Energy by 60.1% in the fourth quarter. Geode Capital Management LLC now owns 342,025 shares of the semiconductor company’s stock worth $13,722,000 after purchasing an additional 128,341 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Daqo New Energy by 28.4% in the fourth quarter. Sei Investments Co. now owns 108,385 shares of the semiconductor company’s stock worth $4,370,000 after purchasing an additional 23,981 shares during the period. Institutional investors and hedge funds own 68.12% of the company’s stock.

Daqo New Energy Company Profile (Get Rating)

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures 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.

See Also

Earnings History for Daqo New Energy (NYSE:DQ)

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