Daqo New Energy Corp. (NYSE:DQ) Receives Consensus Recommendation of “Buy” from Analysts

Daqo New Energy Corp. (NYSE:DQGet Rating) has been assigned a consensus recommendation of “Buy” from the seven research firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $81.03.

Several brokerages have weighed in on DQ. JPMorgan Chase & Co. raised Daqo New Energy from a “neutral” rating to an “overweight” rating in a research report on Wednesday, May 4th. They noted that the move was a valuation call. StockNews.com raised Daqo New Energy from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 26th. Finally, TheStreet raised Daqo New Energy from a “c+” rating to a “b-” rating in a report on Friday, May 6th.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Daqo New Energy by 23.7% during the fourth quarter. BlackRock Inc. now owns 4,988,438 shares of the semiconductor company’s stock worth $201,133,000 after purchasing an additional 954,938 shares in the last quarter. Invesco Ltd. boosted its holdings in Daqo New Energy by 31.3% in the 4th quarter. Invesco Ltd. now owns 3,127,082 shares of the semiconductor company’s stock worth $126,084,000 after buying an additional 745,728 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Daqo New Energy during the 4th quarter worth approximately $26,881,000. Nuveen Asset Management LLC raised its holdings in shares of Daqo New Energy by 511.5% during the fourth quarter. Nuveen Asset Management LLC now owns 709,360 shares of the semiconductor company’s stock valued at $28,601,000 after acquiring an additional 593,360 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Daqo New Energy by 101.4% in the second quarter. Morgan Stanley now owns 1,171,353 shares of the semiconductor company’s stock valued at $76,161,000 after acquiring an additional 589,693 shares in the last quarter. 70.99% of the stock is owned by institutional investors and hedge funds.

Daqo New Energy stock opened at $53.97 on Friday. The stock has a 50-day moving average price of $46.82 and a 200 day moving average price of $43.93. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 3.42 and a beta of 0.72. Daqo New Energy has a 52 week low of $32.20 and a 52 week high of $90.48.

Daqo New Energy (NYSE:DQGet Rating) last announced its quarterly earnings data on Thursday, April 21st. The semiconductor company reported $6.99 EPS for the quarter, beating the consensus estimate of $6.29 by $0.70. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Daqo New Energy had a net margin of 44.72% and a return on equity of 50.40%. During the same period in the previous year, the business posted $1.08 EPS. On average, analysts expect that Daqo New Energy will post 22.63 EPS for the current fiscal year.

Daqo New Energy declared that its board has authorized a share repurchase program on Wednesday, June 1st that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

About Daqo New Energy (Get Rating)

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic product manufactures 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.

Featured Articles

Analyst Recommendations for Daqo New Energy (NYSE:DQ)

Want More Great Investing Ideas?

Receive News & Ratings for Daqo New Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Daqo New Energy and related companies with MarketBeat.com's FREE daily email newsletter.