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Daqo New Energy (DQ) Stock Sinks As Market Gains: What You Should Know

Daqo New Energy (DQ) closed the most recent trading day at $66.27, moving -1.75% from the previous trading session. This change lagged the S&P 500's 0.95% gain on the day. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.12%.

Coming into today, shares of the solar panel parts maker had gained 44.87% in the past month. In that same time, the Basic Materials sector lost 11.11%, while the S&P 500 lost 3.49%.

Investors will be hoping for strength from Daqo New Energy as it approaches its next earnings release. In that report, analysts expect Daqo New Energy to post earnings of $6.46 per share. This would mark year-over-year growth of 113.2%. Our most recent consensus estimate is calling for quarterly revenue of $1.07 billion, up 142.88% from the year-ago period.

DQ's full-year Zacks Consensus Estimates are calling for earnings of $22.63 per share and revenue of $3.66 billion. These results would represent year-over-year changes of +129.75% and +118.07%, respectively.

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Investors might also notice recent changes to analyst estimates for Daqo New Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 10% higher within the past month. Daqo New Energy currently has a Zacks Rank of #1 (Strong Buy).

Digging into valuation, Daqo New Energy currently has a Forward P/E ratio of 2.98. This represents a discount compared to its industry's average Forward P/E of 13.66.

The Chemical - Specialty industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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