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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 $256, moving +1.81% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.6%. At the same time, the Dow added 2.83%, and the tech-heavy Nasdaq gained 0.04%.
Prior to today's trading, shares of the specialty chemicals company had lost 18.11% over the past month. This has lagged the Basic Materials sector's loss of 10.77% and the S&P 500's loss of 12.9% in that time.
Wall Street will be looking for positivity from Albemarle as it approaches its next earnings report date. This is expected to be November 2, 2022. On that day, Albemarle is projected to report earnings of $6.81 per share, which would represent year-over-year growth of 548.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.12 billion, up 155% from the year-ago period.
ALB's full-year Zacks Consensus Estimates are calling for earnings of $21.28 per share and revenue of $7.45 billion. These results would represent year-over-year changes of +426.73% and +123.98%, respectively.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Albemarle currently has a Forward P/E ratio of 11.82. This represents a premium compared to its industry's average Forward P/E of 8.28.
Also, we should mention that ALB has a PEG ratio of 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 1.27 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 242, putting it in the bottom 4% of all 250+ industries.
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.
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 the most recent trading day at $256, moving +1.81% from the previous trading session. The stock lagged the S&P 500's daily gain of 2.6%. At the same time, the Dow added 2.83%, and the tech-heavy Nasdaq gained 0.04%.
Prior to today's trading, shares of the specialty chemicals company had lost 18.11% over the past month. This has lagged the Basic Materials sector's loss of 10.77% and the S&P 500's loss of 12.9% in that time.
Wall Street will be looking for positivity from Albemarle as it approaches its next earnings report date. This is expected to be November 2, 2022. On that day, Albemarle is projected to report earnings of $6.81 per share, which would represent year-over-year growth of 548.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.12 billion, up 155% from the year-ago period.
ALB's full-year Zacks Consensus Estimates are calling for earnings of $21.28 per share and revenue of $7.45 billion. These results would represent year-over-year changes of +426.73% and +123.98%, respectively.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Albemarle currently has a Forward P/E ratio of 11.82. This represents a premium compared to its industry's average Forward P/E of 8.28.
Also, we should mention that ALB has a PEG ratio of 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 1.27 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 242, putting it in the bottom 4% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.