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Albemarle (ALB) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Albemarle (ALB - Free Report) closed at $239.11, marking a -1.92% move from the previous day. This move lagged the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 10.92%.
Prior to today's trading, shares of the specialty chemicals company had gained 4.8% over the past month. This has lagged the Basic Materials sector's gain of 7.22% and outpaced the S&P 500's gain of 2.18% in that time.
Investors will be hoping for strength from Albemarle as it approaches its next earnings release, which is expected to be February 15, 2023. On that day, Albemarle is projected to report earnings of $7.62 per share, which would represent year-over-year growth of 654.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.6 billion, up 191.03% from the year-ago period.
Any recent changes to analyst estimates for Albemarle should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.98% lower. Albemarle is currently a Zacks Rank #3 (Hold).
Investors should also note Albemarle's current valuation metrics, including its Forward P/E ratio of 9. This valuation marks a discount compared to its industry's average Forward P/E of 12.92.
Meanwhile, ALB's PEG ratio is currently 0.56. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Chemical - Diversified industry currently had an average PEG ratio of 2.04 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Albemarle (ALB - Free Report) closed at $239.11, marking a -1.92% move from the previous day. This move lagged the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 10.92%.
Prior to today's trading, shares of the specialty chemicals company had gained 4.8% over the past month. This has lagged the Basic Materials sector's gain of 7.22% and outpaced the S&P 500's gain of 2.18% in that time.
Investors will be hoping for strength from Albemarle as it approaches its next earnings release, which is expected to be February 15, 2023. On that day, Albemarle is projected to report earnings of $7.62 per share, which would represent year-over-year growth of 654.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.6 billion, up 191.03% from the year-ago period.
Any recent changes to analyst estimates for Albemarle should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.98% lower. Albemarle is currently a Zacks Rank #3 (Hold).
Investors should also note Albemarle's current valuation metrics, including its Forward P/E ratio of 9. This valuation marks a discount compared to its industry's average Forward P/E of 12.92.
Meanwhile, ALB's PEG ratio is currently 0.56. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Chemical - Diversified industry currently had an average PEG ratio of 2.04 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% 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.