Daqo New Energy Corp. (NYSE:DQ – Get Free Report) has been given an average recommendation of “Hold” by the seven brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $22.26.
DQ has been the subject of a number of research reports. StockNews.com raised shares of Daqo New Energy to a “sell” rating in a research report on Monday. HSBC upgraded Daqo New Energy from a “reduce” rating to a “hold” rating and set a $15.00 target price on the stock in a research note on Tuesday, August 27th. The Goldman Sachs Group started coverage on Daqo New Energy in a research note on Thursday, July 11th. They set a “buy” rating for the company. Jefferies Financial Group lowered their price objective on Daqo New Energy from $38.40 to $34.05 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, Nomura Securities upgraded shares of Daqo New Energy to a “strong-buy” rating in a research report on Wednesday, August 28th.
Check Out Our Latest Stock Analysis on DQ
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Daqo New Energy Stock Performance
Shares of DQ stock opened at $17.57 on Friday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 8.25 and a beta of 0.30. Daqo New Energy has a 52-week low of $13.62 and a 52-week high of $31.19. The company has a 50-day simple moving average of $15.97 and a two-hundred day simple moving average of $19.47.
Daqo New Energy (NYSE:DQ – Get Free Report) last announced its quarterly earnings data on Monday, August 26th. The semiconductor company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($1.25). The business had revenue of $219.91 million during the quarter, compared to the consensus estimate of $406.50 million. Daqo New Energy had a negative net margin of 4.11% and a negative return on equity of 1.04%. During the same quarter last year, the company earned $1.34 EPS. On average, sell-side analysts forecast that Daqo New Energy will post -3.35 EPS for the current fiscal year.
Daqo New Energy announced that its Board of Directors has initiated a share repurchase program on Monday, July 22nd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 8.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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.
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