Daqo New Energy Corp. (NYSE:DQ) Just Reported Earnings, And Analysts Cut Their Target Price
Daqo New Energy Corp. (NYSE:DQ) missed earnings with its latest first-quarter results, disappointing overly-optimistic forecasters. It looks to have been a weak result overall, as revenue of US$124m were 32% less than the analysts expected. Unsurprisingly, losses were also somewhat larger than was modelled, at US$1.07 per share. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
We check all companies for important risks. See what we found for Daqo New Energy in our free report.
After the latest results, the nine analysts covering Daqo New Energy are now predicting revenues of US$838.4m in 2025. If met, this would reflect a solid 14% improvement in revenue compared to the last 12 months. The loss per share is expected to greatly reduce in the near future, narrowing 46% to US$3.50. Yet prior to the latest earnings, the analysts had been forecasting revenues of US$846.2m and losses of US$1.80 per share in 2025. So it's pretty clear the analysts have mixed opinions on Daqo New Energy even after this update; although they reconfirmed their revenue numbers, it came at the cost of a massive increase in per-share losses.
View our latest analysis for Daqo New Energy
The consensus price target fell 7.8% to US$22.78per share, with the analysts clearly concerned by ballooning losses. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. The most optimistic Daqo New Energy analyst has a price target of US$35.54 per share, while the most pessimistic values it at US$14.00. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.
One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. The analysts are definitely expecting Daqo New Energy's growth to accelerate, with the forecast 19% annualised growth to the end of 2025 ranking favourably alongside historical growth of 13% per annum over the past five years. Compare this with other companies in the same industry, which are forecast to grow their revenue 16% annually. Daqo New Energy is expected to grow at about the same rate as its industry, so it's not clear that we can draw any conclusions from its growth relative to competitors.
The most important thing to take away is that the analysts increased their loss per share estimates for next year. They also reconfirmed their revenue estimates, with the company predicted to grow at about the same rate as the wider industry. Furthermore, the analysts also cut their price targets, suggesting that the latest news has led to greater pessimism about the intrinsic value of the business.
With that said, the long-term trajectory of the company's earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Daqo New Energy going out to 2027, and you can see them free on our platform here..
You can also see our analysis of Daqo New Energy's Board and CEO remuneration and experience, and whether company insiders have been buying stock.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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