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Albemarle (ALB) Gains As Market Dips: What You Should Know
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Albemarle (ALB - Free Report) closed at $256.51 in the latest trading session, marking a +1.92% move from the prior day. This move outpaced the S&P 500's daily loss of 0.67%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the specialty chemicals company had lost 12.51% over the past month, lagging the Basic Materials sector's loss of 1.68% and the S&P 500's loss of 3.76% in that time.
Albemarle will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2022. The company is expected to report EPS of $6.81, up 548.57% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.12 billion, up 155% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $21.28 per share and revenue of $7.45 billion, which would represent changes of +426.73% and +123.98%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Albemarle. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. Albemarle is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Albemarle is holding a Forward P/E ratio of 11.83. Its industry sports an average Forward P/E of 9.01, so we one might conclude that Albemarle is trading at a premium comparatively.
Meanwhile, ALB's PEG ratio is currently 0.37. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Chemical - Diversified was holding an average PEG ratio of 1.34 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 240, putting it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Albemarle (ALB) Gains As Market Dips: What You Should Know
Albemarle (ALB - Free Report) closed at $256.51 in the latest trading session, marking a +1.92% move from the prior day. This move outpaced the S&P 500's daily loss of 0.67%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the specialty chemicals company had lost 12.51% over the past month, lagging the Basic Materials sector's loss of 1.68% and the S&P 500's loss of 3.76% in that time.
Albemarle will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2022. The company is expected to report EPS of $6.81, up 548.57% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.12 billion, up 155% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $21.28 per share and revenue of $7.45 billion, which would represent changes of +426.73% and +123.98%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Albemarle. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. Albemarle is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, Albemarle is holding a Forward P/E ratio of 11.83. Its industry sports an average Forward P/E of 9.01, so we one might conclude that Albemarle is trading at a premium comparatively.
Meanwhile, ALB's PEG ratio is currently 0.37. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Chemical - Diversified was holding an average PEG ratio of 1.34 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 240, putting it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.