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

Daqo New Energy (NYSE:DQ - Get Free Report) announced its quarterly earnings results on Monday. The semiconductor company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.32), RTT News reports. The firm had revenue of $415.31 million during the quarter, compared to analyst estimates of $491.90 million. Daqo New Energy had a net margin of 18.24% and a return on equity of 6.42%. During the same quarter in the prior year, the business earned $3.52 EPS.

Daqo New Energy Stock Down 10.9 %

Shares of NYSE DQ traded down $2.35 during mid-day trading on Tuesday, reaching $19.20. 1,540,814 shares of the company were exchanged, compared to its average volume of 1,217,793. The company's 50-day simple moving average is $24.55 and its 200-day simple moving average is $23.84. The stock has a market capitalization of $1.26 billion, a P/E ratio of 3.55 and a beta of 0.22. Daqo New Energy has a twelve month low of $17.30 and a twelve month high of $48.31.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DQ shares. Roth Mkm restated a "neutral" rating and set a $23.00 target price on shares of Daqo New Energy in a research note on Tuesday. Daiwa Capital Markets restated an "underperform" rating and set a $25.00 target price on shares of Daqo New Energy in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Daqo New Energy currently has a consensus rating of "Hold" and a consensus price target of $32.93.

Daqo New Energy Company Profile

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.