Daqo New Energy (DQ) Issues Earnings Results

Daqo New Energy (NYSE:DQ) released its quarterly earnings results on Tuesday. The semiconductor company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.48, RTT News reports. Daqo New Energy had a return on equity of 8.68% and a net margin of 4.51%. The company had revenue of $81.20 million for the quarter, compared to analysts’ expectations of $80.80 million. During the same period in the prior year, the firm earned $2.90 earnings per share.

Shares of NYSE DQ opened at $38.55 on Thursday. The firm has a market capitalization of $388.83 million, a PE ratio of 8.68, a P/E/G ratio of 0.55 and a beta of 2.03. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.97 and a current ratio of 1.07. Daqo New Energy has a 12-month low of $20.35 and a 12-month high of $67.83.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in shares of Daqo New Energy during the third quarter worth about $33,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Daqo New Energy by 20.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,370 shares of the semiconductor company’s stock worth $55,000 after buying an additional 400 shares during the last quarter. Shell Asset Management Co. purchased a new position in shares of Daqo New Energy during the first quarter worth about $112,000. JPMorgan Chase & Co. grew its holdings in shares of Daqo New Energy by 5,101.4% during the first quarter. JPMorgan Chase & Co. now owns 3,641 shares of the semiconductor company’s stock worth $120,000 after buying an additional 3,571 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Daqo New Energy during the first quarter worth about $144,000. Institutional investors and hedge funds own 38.23% of the company’s stock.

Separately, Zacks Investment Research cut Daqo New Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Daqo New Energy currently has a consensus rating of “Hold” and an average target price of $45.00.

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Daqo New Energy Company Profile

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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Earnings History for Daqo New Energy (NYSE:DQ)

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