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SQM (SQM) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, SQM (SQM - Free Report) closed at $68.81, marking a -1.23% move from the previous day. This change lagged the S&P 500's 0.03% gain on the day. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.12%.
Coming into today, shares of the chemicals company had lost 13.1% in the past month. In that same time, the Basic Materials sector gained 3.48%, while the S&P 500 gained 1.66%.
Wall Street will be looking for positivity from SQM as it approaches its next earnings report date. This is expected to be August 16, 2023. On that day, SQM is projected to report earnings of $2.62 per share, which would represent a year-over-year decline of 12.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.24 billion, down 13.79% from the year-ago period.
SQM's full-year Zacks Consensus Estimates are calling for earnings of $12.15 per share and revenue of $10.08 billion. These results would represent year-over-year changes of -11.18% and -5.93%, respectively.
Any recent changes to analyst estimates for SQM should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, 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. The Zacks Consensus EPS estimate has moved 2.39% lower within the past month. SQM is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, SQM is holding a Forward P/E ratio of 5.73. For comparison, its industry has an average Forward P/E of 11.77, which means SQM is trading at a discount to the group.
Investors should also note that SQM has a PEG ratio of 0.39 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Fertilizers was holding an average PEG ratio of 1.53 at yesterday's closing price.
The Fertilizers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 242, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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SQM (SQM) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, SQM (SQM - Free Report) closed at $68.81, marking a -1.23% move from the previous day. This change lagged the S&P 500's 0.03% gain on the day. Elsewhere, the Dow gained 0.15%, while the tech-heavy Nasdaq added 0.12%.
Coming into today, shares of the chemicals company had lost 13.1% in the past month. In that same time, the Basic Materials sector gained 3.48%, while the S&P 500 gained 1.66%.
Wall Street will be looking for positivity from SQM as it approaches its next earnings report date. This is expected to be August 16, 2023. On that day, SQM is projected to report earnings of $2.62 per share, which would represent a year-over-year decline of 12.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.24 billion, down 13.79% from the year-ago period.
SQM's full-year Zacks Consensus Estimates are calling for earnings of $12.15 per share and revenue of $10.08 billion. These results would represent year-over-year changes of -11.18% and -5.93%, respectively.
Any recent changes to analyst estimates for SQM should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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, 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. The Zacks Consensus EPS estimate has moved 2.39% lower within the past month. SQM is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, SQM is holding a Forward P/E ratio of 5.73. For comparison, its industry has an average Forward P/E of 11.77, which means SQM is trading at a discount to the group.
Investors should also note that SQM has a PEG ratio of 0.39 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Fertilizers was holding an average PEG ratio of 1.53 at yesterday's closing price.
The Fertilizers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 242, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.