Published on 4 May 2024 on Simply Wall St. via Yahoo Finance

Analysts Just Shaved Their Daqo New Energy Corp. (NYSE:DQ) Forecasts Dramatically

One thing we could say about the analysts on Daqo New Energy Corp. (NYSE:DQ) - they aren't optimistic, having just made a major negative revision to their near-term (statutory) forecasts for the organization. Both revenue and earnings per share (EPS) forecasts went under the knife, suggesting the analysts have soured majorly on the business.

Following the latest downgrade, the eight analysts covering Daqo New Energy provided consensus estimates of US$1.9b revenue in 2024, which would reflect a measurable 3.6% decline on its sales over the past 12 months. Statutory earnings per share are anticipated to plummet 69% to US$0.79 in the same period. Before this latest update, the analysts had been forecasting revenues of US$2.4b and earnings per share (EPS) of US$3.73 in 2024. It looks like analyst sentiment has declined substantially, with a sizeable cut to revenue estimates and a pretty serious decline to earnings per share numbers as well.