Daqo New Energy (DQ) to Release Quarterly Earnings on Wednesday

Daqo New Energy (NYSE:DQ - Get Free Report) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of ($0.80) per share for the quarter. Persons that are interested in registering for the company's earnings conference call can do so using this link.

Daqo New Energy (NYSE:DQ - Get Free Report) last released its earnings results on Monday, August 26th. The semiconductor company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($0.56) by ($1.25). Daqo New Energy had a negative net margin of 4.11% and a negative return on equity of 1.04%. The firm had revenue of $219.91 million during the quarter, compared to analyst estimates of $406.50 million. During the same period last year, the business posted $1.34 earnings per share. On average, analysts expect Daqo New Energy to post $-3 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Daqo New Energy Trading Up 6.8 %

Shares of DQ traded up $1.41 during trading hours on Wednesday, hitting $22.23. 2,947,442 shares of the stock traded hands, compared to its average volume of 1,073,443. The business has a fifty day moving average of $17.44 and a 200-day moving average of $18.49. The firm has a market capitalization of $1.47 billion, a PE ratio of 10.62 and a beta of 0.32. Daqo New Energy has a 1-year low of $13.62 and a 1-year high of $30.03.

Daqo New Energy announced that its board has approved a share repurchase program on Monday, July 22nd that allows the company to buyback $100.00 million in shares. This buyback authorization allows the semiconductor company to reacquire 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 shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DQ shares. Roth Mkm decreased their price target on shares of Daqo New Energy from $23.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, August 28th. Hsbc Global Res upgraded Daqo New Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 2nd. Daiwa America raised Daqo New Energy to a "hold" rating in a research report on Wednesday, October 9th. HSBC upgraded Daqo New Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Finally, Nomura Securities raised shares of Daqo New Energy to a "strong-buy" rating in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.26.

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.