Daqo New Energy (DQ) Announces Earnings Results

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Daqo New Energy (NYSE:DQ) released its quarterly earnings results on Wednesday. The semiconductor company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $1.07, Morningstar.com reports. Daqo New Energy had a return on equity of 17.53% and a net margin of 17.71%. The firm had revenue of $75.60 million for the quarter, compared to the consensus estimate of $72.40 million. During the same quarter last year, the business posted $0.77 EPS. The firm’s quarterly revenue was down 36.4% compared to the same quarter last year.

NYSE:DQ traded up $0.84 during trading hours on Thursday, reaching $34.52. The company had a trading volume of 4,413 shares, compared to its average volume of 356,939. The company has a current ratio of 1.26, a quick ratio of 1.15 and a debt-to-equity ratio of 0.23. Daqo New Energy has a twelve month low of $20.35 and a twelve month high of $71.50. The stock has a market capitalization of $371.28 million, a price-to-earnings ratio of 4.06, a PEG ratio of 0.30 and a beta of 2.03.

Separately, Zacks Investment Research cut Daqo New Energy from a “buy” rating to a “sell” rating in a report on Monday, January 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $45.00.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Daqo New Energy in the 2nd quarter worth approximately $2,493,000. Northern Trust Corp bought a new stake in Daqo New Energy during the 2nd quarter valued at $351,000. Prudential Financial Inc. bought a new stake in Daqo New Energy during the 3rd quarter valued at $326,000. Seizert Capital Partners LLC bought a new stake in Daqo New Energy during the 3rd quarter valued at $241,000. Finally, Jefferies Group LLC bought a new stake in Daqo New Energy during the 3rd quarter valued at $281,000. 42.72% of the stock is currently owned by institutional investors and hedge funds.

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About Daqo New Energy

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon and wafers in the People's Republic of China. It operates through two segments, Polysilicon and Wafers. The company offers polysilicon to photovoltaic product manufacturers who further process its polysilicon into ingots, wafers, cells, and modules for solar power solutions.

See Also: Growth Stocks

Earnings History for Daqo New Energy (NYSE:DQ)

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