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Earnings Estimates Moving Higher for Daqo New Energy (DQ): Time to Buy?

Daqo New Energy Corp. DQ is a polysilicon manufacturer that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DQ’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Daqo could be a solid choice for investors.

Current Quarter Estimates for DQ

In the past 30 days, 2 estimates have gone higher for Daqo, with no downward revisions in the same time period. The trend has been pretty favorable too, with estimates increasing from 40 cents a share 30 days ago, to 91 cents a share today, a significant move. 

Current Year Estimates for DQ

Meanwhile, Daqo’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, with no downward revisions. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.88 per share 30 days ago to $3.70 per share today, an increase by 96.8%.

Bottom Line

The stock has also started to move higher lately, adding 13.7% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.

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DAQO NEW ENERGY (DQ): Free Stock Analysis Report
 
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