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SQM (SQM - Free Report) ended the recent trading session at $48.50, demonstrating a +1.13% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow experienced a rise of 0.17%, and the technology-dominated Nasdaq saw an increase of 0.9%.
The the stock of chemicals company has fallen by 9.58% in the past month, lagging the Basic Materials sector's gain of 1.85% and the S&P 500's gain of 1.45%.
The upcoming earnings release of SQM will be of great interest to investors. The company's earnings report is expected on November 15, 2023. The company is forecasted to report an EPS of $2.38, showcasing a 38.18% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.1 billion, indicating a 29.11% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.44 per share and a revenue of $8.61 billion, indicating changes of -30.99% and -19.63%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for SQM. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 8.25% lower. SQM is currently a Zacks Rank #5 (Strong Sell).
Looking at valuation, SQM is presently trading at a Forward P/E ratio of 5.08. This indicates a discount in contrast to its industry's Forward P/E of 9.89.
Also, we should mention that SQM has a PEG ratio of 0.35. 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. Fertilizers stocks are, on average, holding a PEG ratio of 1.23 based on yesterday's closing prices.
The Fertilizers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 241, which puts it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SQM in the coming trading sessions, be sure to utilize Zacks.com.
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Why SQM (SQM) Outpaced the Stock Market Today
SQM (SQM - Free Report) ended the recent trading session at $48.50, demonstrating a +1.13% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. Meanwhile, the Dow experienced a rise of 0.17%, and the technology-dominated Nasdaq saw an increase of 0.9%.
The the stock of chemicals company has fallen by 9.58% in the past month, lagging the Basic Materials sector's gain of 1.85% and the S&P 500's gain of 1.45%.
The upcoming earnings release of SQM will be of great interest to investors. The company's earnings report is expected on November 15, 2023. The company is forecasted to report an EPS of $2.38, showcasing a 38.18% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.1 billion, indicating a 29.11% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $9.44 per share and a revenue of $8.61 billion, indicating changes of -30.99% and -19.63%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for SQM. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 8.25% lower. SQM is currently a Zacks Rank #5 (Strong Sell).
Looking at valuation, SQM is presently trading at a Forward P/E ratio of 5.08. This indicates a discount in contrast to its industry's Forward P/E of 9.89.
Also, we should mention that SQM has a PEG ratio of 0.35. 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. Fertilizers stocks are, on average, holding a PEG ratio of 1.23 based on yesterday's closing prices.
The Fertilizers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 241, which puts it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SQM in the coming trading sessions, be sure to utilize Zacks.com.