Daqo New Energy Corp (DQ) Issues Quarterly Earnings Results, Beats Estimates By $0.76 EPS

Daqo New Energy Corp (NYSE:DQ) released its quarterly earnings results on Tuesday. The semiconductor company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.76. Daqo New Energy Corp had a net margin of 21.05% and a return on equity of 21.67%. The firm had revenue of $83.81 million during the quarter, compared to analysts’ expectations of $72.50 million. During the same period in the previous year, the company earned $1.12 EPS.

Daqo New Energy Corp (NYSE:DQ) traded up 5.18% during trading on Wednesday, hitting $23.33. 276,186 shares of the company were exchanged. The company has a market capitalization of $245.41 million, a price-to-earnings ratio of 5.83 and a beta of 1.79. Daqo New Energy Corp has a 12 month low of $18.01 and a 12 month high of $27.60. The stock’s 50-day moving average is $19.46 and its 200-day moving average is $21.75.

Earnings History for Daqo New Energy Corp (NYSE:DQ)

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rational Advisors LLC raised its position in shares of Daqo New Energy Corp by 18.4% in the first quarter. Rational Advisors LLC now owns 5,800 shares of the semiconductor company’s stock valued at $109,000 after buying an additional 900 shares during the period. Acadian Asset Management LLC raised its position in shares of Daqo New Energy Corp by 87.9% in the third quarter. Acadian Asset Management LLC now owns 5,280 shares of the semiconductor company’s stock valued at $113,000 after buying an additional 2,470 shares during the period. Trexquant Investment LP bought a new position in shares of Daqo New Energy Corp during the first quarter valued at $196,000. State of Wisconsin Investment Board bought a new position in shares of Daqo New Energy Corp during the first quarter valued at $217,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Daqo New Energy Corp during the fourth quarter valued at $289,000. 32.42% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “Daqo New Energy Corp (DQ) Issues Quarterly Earnings Results, Beats Estimates By $0.76 EPS” was published by sleekmoney and is the sole property of of sleekmoney. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://sleekmoney.com/daqo-new-energy-corp-dq-issues-quarterly-earnings-results-beats-estimates-by-0-76-eps/1807811.html.

DQ has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Daqo New Energy Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Craig Hallum initiated coverage on shares of Daqo New Energy Corp in a research note on Thursday, January 26th. They set a “buy” rating and a $40.00 price target for the company. Finally, Roth Capital set a $35.00 price target on shares of Daqo New Energy Corp and gave the stock a “buy” rating in a research note on Monday, March 6th.

Daqo New Energy Corp Company Profile

Daqo New Energy Corp. is a polysilicon manufacturer. The Company utilizes the chemical vapor deposition process, or the modified Siemens process, to produce polysilicon. The Company’s segments include Polysilicon and Wafer. The Company manufactures and sells polysilicon to photovoltaic product manufacturers, whereby the polysilicon is processed into ingots, wafers, cells and modules for solar power solutions.

5 Day Chart for NYSE:DQ

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/daqo-new-energy-corp-dq-issues-quarterly-earnings-results-beats-estimates-by-0-76-eps/1807811.html

Receive News & Ratings for Daqo New Energy Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Daqo New Energy Corp and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *