Daqo New Energy (NYSE:DQ) Announces Quarterly Earnings Results

Daqo New Energy (NYSE:DQ) released its quarterly earnings results on Monday. The semiconductor company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.32), RTT News reports. 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 company posted $3.52 EPS.

Daqo New Energy Stock Down 9.2 %

NYSE:DQ opened at $21.55 on Tuesday. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 3.98 and a beta of 0.22. Daqo New Energy has a twelve month low of $17.30 and a twelve month high of $48.31. The stock’s 50 day moving average price is $24.55 and its two-hundred day moving average price is $23.84.

Wall Street Analyst Weigh In

Separately, Daiwa Capital Markets reaffirmed an “underperform” rating and issued a $25.00 target price on shares of Daqo New Energy in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.23.

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.