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Albemarle (ALB) Stock Moves -0.08%: What You Should Know
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The latest trading session saw Albemarle (ALB - Free Report) ending at $135.21, denoting a -0.08% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 1.18% for the day. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 1.76%.
Prior to today's trading, shares of the specialty chemicals company had lost 16.79% over the past month. This has lagged the Basic Materials sector's loss of 6.27% and the S&P 500's loss of 3.35% in that time.
Investors will be eagerly watching for the performance of Albemarle in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 1, 2023. The company is predicted to post an EPS of $3.70, indicating a 50.67% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.41 billion, up 15.2% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $25.32 per share and a revenue of $10.32 billion, demonstrating changes of +15.3% and +41.04%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Albemarle. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.95% lower. Albemarle is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Albemarle is holding a Forward P/E ratio of 5.34. This signifies a discount in comparison to the average Forward P/E of 13.33 for its industry.
It is also worth noting that ALB currently has a PEG ratio of 0.46. 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 industry had an average PEG ratio of 2.12 as trading concluded yesterday.
The Chemical - Diversified industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 197, placing it within the bottom 22% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Albemarle (ALB) Stock Moves -0.08%: What You Should Know
The latest trading session saw Albemarle (ALB - Free Report) ending at $135.21, denoting a -0.08% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 1.18% for the day. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 1.76%.
Prior to today's trading, shares of the specialty chemicals company had lost 16.79% over the past month. This has lagged the Basic Materials sector's loss of 6.27% and the S&P 500's loss of 3.35% in that time.
Investors will be eagerly watching for the performance of Albemarle in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 1, 2023. The company is predicted to post an EPS of $3.70, indicating a 50.67% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.41 billion, up 15.2% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $25.32 per share and a revenue of $10.32 billion, demonstrating changes of +15.3% and +41.04%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Albemarle. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.95% lower. Albemarle is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Albemarle is holding a Forward P/E ratio of 5.34. This signifies a discount in comparison to the average Forward P/E of 13.33 for its industry.
It is also worth noting that ALB currently has a PEG ratio of 0.46. 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 industry had an average PEG ratio of 2.12 as trading concluded yesterday.
The Chemical - Diversified industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 197, placing it within the bottom 22% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.