Daqo New Energy (NYSE:DQ) Posts Earnings Results, Misses Expectations By $0.32 EPS

Daqo New Energy (NYSE:DQ) announced its quarterly earnings data 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 quarter in the previous year, the firm posted $3.52 earnings per share.

Daqo New Energy Stock Down 9.2 %

Shares of DQ opened at $21.55 on Tuesday. The firm has a 50 day moving average of $24.55 and a 200 day moving average of $23.84. Daqo New Energy has a twelve month low of $17.30 and a twelve month high of $48.31. The company has a market capitalization of $1.42 billion, a P/E ratio of 3.98 and a beta of 0.22.

Wall Street Analysts Forecast Growth

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