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Albemarle (ALB) Flat As Market Sinks: What You Should Know
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Albemarle (ALB - Free Report) closed at $201.70 in the latest trading session, marking no change from the prior day. This change was narrower than the S&P 500's daily loss of 0.41%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq lost 4.08%.
Coming into today, shares of the specialty chemicals company had lost 10.49% in the past month. In that same time, the Basic Materials sector gained 4.47%, while the S&P 500 gained 6.51%.
Wall Street will be looking for positivity from Albemarle as it approaches its next earnings report date. This is expected to be May 3, 2023. The company is expected to report EPS of $7.26, up 205.04% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.74 billion, up 142.66% from the prior-year quarter.
ALB's full-year Zacks Consensus Estimates are calling for earnings of $29.54 per share and revenue of $11.91 billion. These results would represent year-over-year changes of +34.52% and +62.72%, respectively.
Any recent changes to analyst estimates for Albemarle should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate has moved 2.21% lower within the past month. Albemarle is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Albemarle has a Forward P/E ratio of 6.83 right now. For comparison, its industry has an average Forward P/E of 14.17, which means Albemarle is trading at a discount to the group.
Also, we should mention that ALB has a PEG ratio of 0.43. 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 2.15 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 205, putting it in the bottom 19% 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.
To follow ALB in the coming trading sessions, be sure to utilize Zacks.com.
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Albemarle (ALB) Flat As Market Sinks: What You Should Know
Albemarle (ALB - Free Report) closed at $201.70 in the latest trading session, marking no change from the prior day. This change was narrower than the S&P 500's daily loss of 0.41%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq lost 4.08%.
Coming into today, shares of the specialty chemicals company had lost 10.49% in the past month. In that same time, the Basic Materials sector gained 4.47%, while the S&P 500 gained 6.51%.
Wall Street will be looking for positivity from Albemarle as it approaches its next earnings report date. This is expected to be May 3, 2023. The company is expected to report EPS of $7.26, up 205.04% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.74 billion, up 142.66% from the prior-year quarter.
ALB's full-year Zacks Consensus Estimates are calling for earnings of $29.54 per share and revenue of $11.91 billion. These results would represent year-over-year changes of +34.52% and +62.72%, respectively.
Any recent changes to analyst estimates for Albemarle should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate has moved 2.21% lower within the past month. Albemarle is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Albemarle has a Forward P/E ratio of 6.83 right now. For comparison, its industry has an average Forward P/E of 14.17, which means Albemarle is trading at a discount to the group.
Also, we should mention that ALB has a PEG ratio of 0.43. 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 2.15 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 205, putting it in the bottom 19% 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.
To follow ALB in the coming trading sessions, be sure to utilize Zacks.com.