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Albemarle (ALB) Beats Stock Market Upswing: What Investors Need to Know
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Albemarle (ALB - Free Report) ended the recent trading session at $122.59, demonstrating a +1.52% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.29%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq appreciated by 0.43%.
The the stock of specialty chemicals company has fallen by 19.55% in the past month, lagging the Basic Materials sector's loss of 7.93% and the S&P 500's gain of 2.08%.
The investment community will be closely monitoring the performance of Albemarle in its forthcoming earnings report. The company is scheduled to release its earnings on February 14, 2024. The company is predicted to post an EPS of $1.32, indicating an 84.69% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.32 billion, down 11.55% 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 13.57% decrease. Albemarle is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Albemarle currently has a Forward P/E ratio of 10.81. This represents a discount compared to its industry's average Forward P/E of 16.21.
It's also important to note that ALB currently trades at a PEG ratio of 0.96. 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 average PEG ratio for the Chemical - Diversified industry stood at 2.17 at the close of the market yesterday.
The Chemical - Diversified industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 215, this industry ranks in the bottom 15% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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) Beats Stock Market Upswing: What Investors Need to Know
Albemarle (ALB - Free Report) ended the recent trading session at $122.59, demonstrating a +1.52% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 0.29%. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq appreciated by 0.43%.
The the stock of specialty chemicals company has fallen by 19.55% in the past month, lagging the Basic Materials sector's loss of 7.93% and the S&P 500's gain of 2.08%.
The investment community will be closely monitoring the performance of Albemarle in its forthcoming earnings report. The company is scheduled to release its earnings on February 14, 2024. The company is predicted to post an EPS of $1.32, indicating an 84.69% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.32 billion, down 11.55% 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 13.57% decrease. Albemarle is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Albemarle currently has a Forward P/E ratio of 10.81. This represents a discount compared to its industry's average Forward P/E of 16.21.
It's also important to note that ALB currently trades at a PEG ratio of 0.96. 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 average PEG ratio for the Chemical - Diversified industry stood at 2.17 at the close of the market yesterday.
The Chemical - Diversified industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 215, this industry ranks in the bottom 15% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.