Daqo New Energy (DQ) Set to Announce Earnings on Monday

Daqo New Energy (NYSE:DQ) will release its earnings data before the market opens on Monday, April 29th. Analysts expect Daqo New Energy to post earnings of $0.56 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Daqo New Energy (NYSE:DQ) last released its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.20). The business had revenue of $477.13 million during the quarter, compared to the consensus estimate of $529.40 million. Daqo New Energy had a return on equity of 6.42% and a net margin of 18.24%. During the same period last year, the business posted $4.71 earnings per share. On average, analysts expect Daqo New Energy to post $4 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Daqo New Energy Trading Down 2.6 %

DQ opened at $22.11 on Monday. The company has a 50 day moving average of $24.11 and a 200 day moving average of $24.00. The company has a market cap of $1.45 billion, a PE ratio of 4.09 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 reissued an “underperform” rating and issued a $25.00 price target on shares of Daqo New Energy in a report 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 stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $36.23.

Institutional Trading of Daqo New Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ensign Peak Advisors Inc raised its position in Daqo New Energy by 6.3% in the 1st quarter. Ensign Peak Advisors Inc now owns 4,250 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 250 shares during the period. Voya Investment Management LLC raised its position in Daqo New Energy by 7.9% in the 4th quarter. Voya Investment Management LLC now owns 6,194 shares of the semiconductor company’s stock worth $239,000 after purchasing an additional 455 shares during the period. Seaport Global Advisors LLC raised its position in Daqo New Energy by 20.1% in the 4th quarter. Seaport Global Advisors LLC now owns 2,781 shares of the semiconductor company’s stock worth $107,000 after purchasing an additional 465 shares during the period. Royal Bank of Canada raised its position in Daqo New Energy by 0.5% in the 2nd quarter. Royal Bank of Canada now owns 93,625 shares of the semiconductor company’s stock worth $3,717,000 after purchasing an additional 467 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its position in Daqo New Energy by 7.3% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 7,821 shares of the semiconductor company’s stock worth $366,000 after purchasing an additional 534 shares during the period. Hedge funds and other institutional investors own 47.22% of the company’s stock.

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.