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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 $225.36, moving +1.06% from the previous trading session. This move lagged the S&P 500's daily gain of 1.68%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, lost 1.7%.
Prior to today's trading, shares of the specialty chemicals company had lost 17.39% over the past month. This has lagged the Basic Materials sector's loss of 4.99% and the S&P 500's loss of 6.68% 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 $7.50 per share, which would represent year-over-year growth of 215.13%. Our most recent consensus estimate is calling for quarterly revenue of $2.74 billion, up 143.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $29.45 per share and revenue of $11.65 billion. These totals would mark changes of +34.11% and +59.2%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Albemarle. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 7.64% higher. Albemarle is currently a Zacks Rank #3 (Hold).
In terms of valuation, Albemarle is currently trading at a Forward P/E ratio of 7.57. This represents a discount compared to its industry's average Forward P/E of 12.3.
We can also see that ALB currently has a PEG ratio of 0.47. 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 2.09 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 187, which puts it in the bottom 26% 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.
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 $225.36, moving +1.06% from the previous trading session. This move lagged the S&P 500's daily gain of 1.68%. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, lost 1.7%.
Prior to today's trading, shares of the specialty chemicals company had lost 17.39% over the past month. This has lagged the Basic Materials sector's loss of 4.99% and the S&P 500's loss of 6.68% 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 $7.50 per share, which would represent year-over-year growth of 215.13%. Our most recent consensus estimate is calling for quarterly revenue of $2.74 billion, up 143.07% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $29.45 per share and revenue of $11.65 billion. These totals would mark changes of +34.11% and +59.2%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Albemarle. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 7.64% higher. Albemarle is currently a Zacks Rank #3 (Hold).
In terms of valuation, Albemarle is currently trading at a Forward P/E ratio of 7.57. This represents a discount compared to its industry's average Forward P/E of 12.3.
We can also see that ALB currently has a PEG ratio of 0.47. 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 2.09 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 187, which puts it in the bottom 26% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.