Daqo New Energy (DQ) Receives Average Recommendation of “Buy” from Brokerages
Shares of Daqo New Energy (NYSE:DQ) have been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $64.50.
Several analysts have recently commented on DQ shares. Zacks Investment Research upgraded shares of Daqo New Energy from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Tuesday, February 27th. Tudor Pickering cut shares of Daqo New Energy from a “buy” rating to a “hold” rating in a research note on Monday, February 26th.
Several hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in shares of Daqo New Energy in the 4th quarter worth $616,000. Millennium Management LLC acquired a new stake in shares of Daqo New Energy in the 4th quarter worth $6,321,000. Sensato Investors LLC acquired a new stake in shares of Daqo New Energy in the 4th quarter worth $739,000. Ellington Management Group LLC acquired a new stake in shares of Daqo New Energy in the 4th quarter worth $404,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Daqo New Energy in the 4th quarter worth $262,000. Institutional investors own 27.63% of the company’s stock.
Daqo New Energy (NYSE:DQ) last issued its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported $3.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.39 by $0.77. The firm had revenue of $103.68 million during the quarter, compared to analysts’ expectations of $95.25 million. Daqo New Energy had a net margin of 26.31% and a return on equity of 27.82%. Daqo New Energy’s quarterly revenue was up 124.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 EPS. research analysts expect that Daqo New Energy will post 7.26 earnings per share for the current fiscal year.
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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.
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