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Albemarle (ALB) Gains But Lags Market: What You Should Know
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Albemarle (ALB - Free Report) closed the most recent trading day at $221.64, moving +1.39% from the previous trading session. This move lagged the S&P 500's daily gain of 2.28%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Heading into today, shares of the specialty chemicals company had lost 14.62% over the past month, lagging the Basic Materials sector's loss of 2.28% and the S&P 500's loss of 4.61% in that time.
Wall Street will be looking for positivity from Albemarle as it approaches its next earnings report date. On that day, Albemarle is projected to report earnings of $7.69 per share, which would represent year-over-year growth of 661.39%. Our most recent consensus estimate is calling for quarterly revenue of $2.6 billion, up 191.03% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Albemarle. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Albemarle currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Albemarle is holding a Forward P/E ratio of 7.75. This valuation marks a discount compared to its industry's average Forward P/E of 11.88.
It is also worth noting that ALB currently has a PEG ratio of 0.48. 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 2.18 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Albemarle (ALB) Gains But Lags Market: What You Should Know
Albemarle (ALB - Free Report) closed the most recent trading day at $221.64, moving +1.39% from the previous trading session. This move lagged the S&P 500's daily gain of 2.28%. Elsewhere, the Dow gained 2.13%, while the tech-heavy Nasdaq added 5.02%.
Heading into today, shares of the specialty chemicals company had lost 14.62% over the past month, lagging the Basic Materials sector's loss of 2.28% and the S&P 500's loss of 4.61% in that time.
Wall Street will be looking for positivity from Albemarle as it approaches its next earnings report date. On that day, Albemarle is projected to report earnings of $7.69 per share, which would represent year-over-year growth of 661.39%. Our most recent consensus estimate is calling for quarterly revenue of $2.6 billion, up 191.03% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Albemarle. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Albemarle currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Albemarle is holding a Forward P/E ratio of 7.75. This valuation marks a discount compared to its industry's average Forward P/E of 11.88.
It is also worth noting that ALB currently has a PEG ratio of 0.48. 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 2.18 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 195, which puts it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.