Yahoo Finance Daqo New Energy (DQ) Advances But Underperforms Market: Key Facts
In the latest market close, Daqo New Energy (DQ) reached $22.29, with a +0.81% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.87%. On the other hand, the Dow registered a gain of 0.67%, and the technology-centric Nasdaq increased by 1.11%.
The the stock of solar panel parts maker has fallen by 19.51% in the past month, lagging the Basic Materials sector's loss of 0.08% and the S&P 500's loss of 3.97%.
The investment community will be closely monitoring the performance of Daqo New Energy in its forthcoming earnings report. The company is scheduled to release its earnings on April 29, 2024. It is anticipated that the company will report an EPS of $0.56, marking an 84.09% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $491.9 million, indicating a 30.7% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.06 per share and a revenue of $2.5 billion, indicating changes of -27.76% and +8.43%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Daqo New Energy. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Daqo New Energy is carrying a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Daqo New Energy is at present trading with a Forward P/E ratio of 5.45. This expresses a discount compared to the average Forward P/E of 17.42 of its industry.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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DAQO New Energy Corp. (DQ) : Free Stock Analysis Report
