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Here's Why Albemarle (ALB) Gained But Lagged the Market Today
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Albemarle (ALB - Free Report) closed the most recent trading day at $112.29, moving +0.12% from the previous trading session. This move lagged the S&P 500's daily gain of 0.87%. At the same time, the Dow added 0.67%, and the tech-heavy Nasdaq gained 1.11%.
Shares of the specialty chemicals company witnessed a loss of 7.21% over the previous month, trailing the performance of the Basic Materials sector with its loss of 0.08% and the S&P 500's loss of 3.97%.
Analysts and investors alike will be keeping a close eye on the performance of Albemarle in its upcoming earnings disclosure. The company's earnings report is set to go public on May 1, 2024. The company is forecasted to report an EPS of $0.36, showcasing a 96.51% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.45 billion, indicating a 43.86% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.09 per share and revenue of $5.75 billion, which would represent changes of -86.11% and -40.23%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Albemarle. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 8.22% lower. Albemarle currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Albemarle is at present trading with a Forward P/E ratio of 36.31. This denotes a premium relative to the industry's average Forward P/E of 18.11.
Meanwhile, ALB's PEG ratio is currently 2.27. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Chemical - Diversified stocks are, on average, holding a PEG ratio of 1.09 based on yesterday's closing prices.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% of all 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.
To follow ALB in the coming trading sessions, be sure to utilize Zacks.com.
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Here's Why Albemarle (ALB) Gained But Lagged the Market Today
Albemarle (ALB - Free Report) closed the most recent trading day at $112.29, moving +0.12% from the previous trading session. This move lagged the S&P 500's daily gain of 0.87%. At the same time, the Dow added 0.67%, and the tech-heavy Nasdaq gained 1.11%.
Shares of the specialty chemicals company witnessed a loss of 7.21% over the previous month, trailing the performance of the Basic Materials sector with its loss of 0.08% and the S&P 500's loss of 3.97%.
Analysts and investors alike will be keeping a close eye on the performance of Albemarle in its upcoming earnings disclosure. The company's earnings report is set to go public on May 1, 2024. The company is forecasted to report an EPS of $0.36, showcasing a 96.51% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.45 billion, indicating a 43.86% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.09 per share and revenue of $5.75 billion, which would represent changes of -86.11% and -40.23%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Albemarle. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 8.22% lower. Albemarle currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Albemarle is at present trading with a Forward P/E ratio of 36.31. This denotes a premium relative to the industry's average Forward P/E of 18.11.
Meanwhile, ALB's PEG ratio is currently 2.27. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Chemical - Diversified stocks are, on average, holding a PEG ratio of 1.09 based on yesterday's closing prices.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 165, putting it in the bottom 35% of all 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.
To follow ALB in the coming trading sessions, be sure to utilize Zacks.com.