Daqo New Energy Corp. (DQ) received a consensus recommendation of Overweight from analysts. That translates to a mean rating of 1.7. DQ has a Sell rating from none of the analyst(s) out of 10 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 3 suggest Overweight, and 6 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.89.
Daqo New Energy Corp. (NYSE:DQ): Trading Information
The consensus price target of analysts on Wall Street is $125.93, which implies an increase of 84.97% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $89.27 and $178 respectively. As a result, DQ is trading at a discount of 161.46% off the target high and 31.13% off the low.
Daqo New Energy Corp. (DQ) projections and forecasts
Statistics show that Daqo New Energy Corp. has outperformed its competitors in share price, compared to the industry in which it operates. Daqo New Energy Corp. (DQ) shares have gone up +102.62% during the last six months, with a year-to-date growth rate more than the industry average at 204.07% against 20.2%. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 97.8% this quarter and then jump 4466.7% in the quarter after that. In the rating firms’ projections, revenue will increase 62.3% compared to the previous financial year.
Revenue for the current quarter is expected to be $297.97 Million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $296.48 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $168.83 Million and $133.52 Million respectively. In this case, analysts expect current quarter sales to grow by 76.5% and then jump by 122.1% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 46.8%. While earnings are projected to return 315.5% in 2021, the next five years will return 0% per annum.
Daqo New Energy Corp. (NYSE:DQ)’s Biggest Investors
Daqo New Energy Corp. insiders own 11.93% of total outstanding shares while institutional holders control 66.08%, with the float percentage being 75.04%. Blackrock Inc. is the largest shareholder of the company, while 248 institutions own stock in it. As of Dec 30, 2020, the company held over 5.85 Million shares (or 8.42% of all shares), a total value of $335.58 Million in shares.
The next largest institutional holding, with 3.6 Million shares, is of Invesco Ltd.’s that is approximately 5.19% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $206.71 Million.
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Also, the Mutual Funds coming in first place with the largest holdings of Daqo New Energy Corp. (DQ) shares are iShares Global Clean Energy ETF and Invesco ETF TR II-Invesco Solar ETF. Data provided on Feb 27, 2021 indicates that iShares Global Clean Energy ETF owns about 3,020,171 shares. This amounts to just over 4.35 percent of the company’s overall shares, with a $314.85 Million market value. The same data shows that the other fund manager holds slightly less at 3.02 Million, or about 4.34% of the stock, which is worth about $314.46 Million.