Daqo New Energy (DQ) to Release Earnings on Monday

Daqo New Energy (NYSE:DQ) will announce its earnings results before the market opens on Monday, August 26th. Analysts expect the company to announce earnings of ($0.24) per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Daqo New Energy Stock Down 5.1 %

Shares of NYSE DQ opened at $15.66 on Monday. The firm’s 50-day simple moving average is $16.82 and its 200 day simple moving average is $20.40. Daqo New Energy has a fifty-two week low of $14.21 and a fifty-two week high of $37.92. The stock has a market cap of $1.03 billion, a P/E ratio of 7.35 and a beta of 0.28.

Daqo New Energy announced that its board has initiated a stock buyback program on Monday, July 22nd that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 8.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. HSBC reissued a “reduce” rating and issued a $17.50 price target (down previously from $23.50) on shares of Daqo New Energy in a research note on Monday, May 6th. StockNews.com cut Daqo New Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group assumed coverage on Daqo New Energy in a research note on Thursday, July 11th. They issued a “buy” rating for the company. Finally, Roth Mkm reissued a “neutral” rating and issued a $23.00 price target on shares of Daqo New Energy in a research note on Tuesday, April 30th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.83.

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.