Home Energy company Daqo New Energy Corp. (NYSE:DQ) Receives Consensus “Buy” Rating from Analysts

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

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Daqo New Energy Corp. (NYSE:DQ – Get Rating) has been assigned a consensus rating of “Buy” by the seven research firms that currently cover the company, Marketbeat.com reports. Three analysts rated the stock with a hold recommendation, two gave the company a buy recommendation and one gave the company a strong buy recommendation. The average 1-year target price among brokerages that updated their coverage on the stock in the past year is $81.03.

DQ has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Daqo New Energy from a “buy” rating to a “strong buy” rating in a Thursday, May 26 research report. TheStreet upgraded Daqo New Energy from a “c+” rating to a “b-” rating in a Friday May 6 research note. Finally, JPMorgan Chase & Co. upgraded Daqo New Energy from a “neutral” rating to an “overweight” rating in a Wednesday, May 4 research report. They noted that the move was a review call.

A number of large investors have recently increased or reduced their stakes in DQ. BlackRock Inc. increased its position in Daqo New Energy by 23.7% during the fourth quarter. BlackRock Inc. now owns 4,988,438 shares of the semiconductor company worth $201,133,000 after purchasing an additional 954,938 shares during the period. Invesco Ltd. raised its position in Daqo New Energy by 31.3% in the fourth quarter. Invesco Ltd. now owns 3,127,082 shares of the semiconductor company valued at $126,084,000 after purchasing an additional 745,728 shares in the last quarter. Vanguard Group Inc. increased its position in Daqo New Energy by 0.9% in Q1. Vanguard Group Inc. now owns 2,147,973 shares of the semiconductor company valued at $88,753,000 after buying 19,268 additional shares in the last quarter. State Street Corp increased its stake in Daqo New Energy by 35.3% in the 4th quarter. State Street Corp now owns 1,521,522 shares of the semiconductor company worth $61,409,000 after purchasing an additional 397,253 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Daqo New Energy by 37.1% during the 4th quarter. Handelsbanken Fonder AB now owns 1,212,935 shares of the semiconductor company worth $48,906,000 after buying 328,414 additional shares in the last quarter. Hedge funds and other institutional investors own 70.99% of the company’s shares.

NYSE DQ shares opened at $53.97 on Friday. The company has a market capitalization of $4.02 billion, a price-earnings ratio of 3.42 and a beta of 0.72. The stock’s 50-day moving average is $46.82 and its two-hundred-day moving average is $43.93. Daqo New Energy has a 1-year low of $32.20 and a 1-year high of $90.48.

Daqo New Energy (NYSE:DQ – Get Rating) last reported quarterly earnings data on Thursday, April 21. The semiconductor company reported EPS of $6.99 for the quarter, beating analyst consensus estimates of $6.29 by $0.70. The company posted revenue of $1.28 billion in the quarter, versus a consensus estimate of $1.15 billion. Daqo New Energy achieved a return on equity of 50.40% and a net margin of 44.72%. During the same period a year earlier, the company posted earnings per share of $1.08. Analysts expect Daqo New Energy to post EPS of 22.63 for the current year.

Daqo New Energy said its board launched a stock repurchase plan on Wednesday, June 1 that allows the company to repurchase $0.00 in stock. This repurchase authorization authorizes the semiconductor company to repurchase its shares through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Daqo New Energy Company Profile (Get a rating)

Daqo New Energy Corp., together with its subsidiaries, manufactures and sells polysilicon to photovoltaic manufacturers in the People’s Republic of China. Its products are used in ingots, wafers, cells and modules for solar energy solutions. The company was previously known as Mega Stand International Limited and changed its name to Daqo New Energy Corp.

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