Daqo New Energy (DQ) Stock Moves -0.05%: What You Should Know
Daqo New Energy (DQ) closed the most recent trading day at $60.34, moving -0.05% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.15%. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Coming into today, shares of the solar panel parts maker had lost 16.28% in the past month. In that same time, the Basic Materials sector lost 7.87%, while the S&P 500 gained 1.44%.
Investors will be hoping for strength from Daqo New Energy as it approaches its next earnings release, which is expected to be August 3, 2022. The company is expected to report EPS of $6.46, up 113.2% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.07 billion, up 142.88% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $25.69 per share and revenue of $4 billion. These totals would mark changes of +160.81% and +138.55%, respectively, from last year.
Any recent changes to analyst estimates for Daqo New Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 13.55% higher. Daqo New Energy is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Daqo New Energy currently has a Forward P/E ratio of 2.35. Its industry sports an average Forward P/E of 14.82, so we one might conclude that Daqo New Energy is trading at a discount comparatively.
The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 128, putting it in the top 50% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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DAQO New Energy Corp. (DQ) : Free Stock Analysis Report
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