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In the latest trading session, Daqo New Energy (DQ) closed at $59.39, marking a -1.61% move from the previous day. This change lagged the S&P 500's daily gain of 0.42%.
Prior to today's trading, shares of the solar panel parts maker had lost 7.17% over the past month. This has lagged the Basic Materials sector's gain of 5% and the S&P 500's gain of 2.64% in that time.
DQ will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $3.29, up 10866.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $462 million, up 246.02% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.73 per share and revenue of $1.57 billion, which would represent changes of +465.7% and +132.49%, respectively, from the prior year.
Any recent changes to analyst estimates for DQ should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 11.2% higher within the past month. DQ is currently a Zacks Rank #3 (Hold).
Digging into valuation, DQ currently has a Forward P/E ratio of 6.2. This valuation marks a discount compared to its industry's average Forward P/E of 17.85.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 168, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DQ in the coming trading sessions, be sure to utilize Zacks.com.
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