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SQM (SQM) Increases Yet Falls Behind Market: What Investors Need to Know
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In the latest market close, SQM (SQM - Free Report) reached $43.14, with a +0.51% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 2.11%. At the same time, the Dow added 1.18%, and the tech-heavy Nasdaq gained 2.96%.
Heading into today, shares of the chemicals company had lost 11.98% over the past month, lagging the Basic Materials sector's gain of 0.45% and the S&P 500's gain of 3.08% in that time.
Analysts and investors alike will be keeping a close eye on the performance of SQM in its upcoming earnings disclosure. The company's earnings report is set to go public on February 28, 2024. On that day, SQM is projected to report earnings of $1.22 per share, which would represent a year-over-year decline of 69.73%. Our most recent consensus estimate is calling for quarterly revenue of $1.36 billion, down 56.66% from the year-ago period.
Investors should also note any recent changes to analyst estimates for SQM. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, there's been a 10.96% fall in the Zacks Consensus EPS estimate. Right now, SQM possesses a Zacks Rank of #5 (Strong Sell).
Looking at valuation, SQM is presently trading at a Forward P/E ratio of 9.23. This signifies a discount in comparison to the average Forward P/E of 10.38 for its industry.
The Fertilizers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 211, this industry ranks in the bottom 17% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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SQM (SQM) Increases Yet Falls Behind Market: What Investors Need to Know
In the latest market close, SQM (SQM - Free Report) reached $43.14, with a +0.51% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 2.11%. At the same time, the Dow added 1.18%, and the tech-heavy Nasdaq gained 2.96%.
Heading into today, shares of the chemicals company had lost 11.98% over the past month, lagging the Basic Materials sector's gain of 0.45% and the S&P 500's gain of 3.08% in that time.
Analysts and investors alike will be keeping a close eye on the performance of SQM in its upcoming earnings disclosure. The company's earnings report is set to go public on February 28, 2024. On that day, SQM is projected to report earnings of $1.22 per share, which would represent a year-over-year decline of 69.73%. Our most recent consensus estimate is calling for quarterly revenue of $1.36 billion, down 56.66% from the year-ago period.
Investors should also note any recent changes to analyst estimates for SQM. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, there's been a 10.96% fall in the Zacks Consensus EPS estimate. Right now, SQM possesses a Zacks Rank of #5 (Strong Sell).
Looking at valuation, SQM is presently trading at a Forward P/E ratio of 9.23. This signifies a discount in comparison to the average Forward P/E of 10.38 for its industry.
The Fertilizers industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 211, this industry ranks in the bottom 17% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.