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Albemarle (ALB) Gains But Lags Market: What You Should Know
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Albemarle (ALB - Free Report) closed at $279.34 in the latest trading session, marking a +0.91% move from the prior day. This change lagged the S&P 500's 1.29% gain on the day. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, lost 4.94%.
Coming into today, shares of the specialty chemicals company had gained 23.58% in the past month. In that same time, the Basic Materials sector gained 3.27%, while the S&P 500 gained 5.64%.
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 $7.89 per share, which would represent year-over-year growth of 681.19%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.63 billion, up 193.73% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Albemarle. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% lower. Albemarle is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Albemarle is holding a Forward P/E ratio of 10.48. For comparison, its industry has an average Forward P/E of 12.77, which means Albemarle is trading at a discount to the group.
Investors should also note that ALB has a PEG ratio of 0.65 right now. 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 was holding an average PEG ratio of 2.14 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 176, which puts it in the bottom 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Albemarle (ALB) Gains But Lags Market: What You Should Know
Albemarle (ALB - Free Report) closed at $279.34 in the latest trading session, marking a +0.91% move from the prior day. This change lagged the S&P 500's 1.29% gain on the day. Meanwhile, the Dow gained 0.78%, and the Nasdaq, a tech-heavy index, lost 4.94%.
Coming into today, shares of the specialty chemicals company had gained 23.58% in the past month. In that same time, the Basic Materials sector gained 3.27%, while the S&P 500 gained 5.64%.
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 $7.89 per share, which would represent year-over-year growth of 681.19%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.63 billion, up 193.73% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Albemarle. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.53% lower. Albemarle is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Albemarle is holding a Forward P/E ratio of 10.48. For comparison, its industry has an average Forward P/E of 12.77, which means Albemarle is trading at a discount to the group.
Investors should also note that ALB has a PEG ratio of 0.65 right now. 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 was holding an average PEG ratio of 2.14 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 176, which puts it in the bottom 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.