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Arcadium (ALTM) Stock Drops Despite Market Gains: Important Facts to Note
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Arcadium (ALTM - Free Report) closed the most recent trading day at $3.87, moving -1.78% from the previous trading session. This move lagged the S&P 500's daily gain of 0.02%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.1%.
The the stock of supplier of performance lithium compounds has fallen by 1.99% in the past month, leading the Basic Materials sector's loss of 2.03% and the S&P 500's loss of 3.01%.
The upcoming earnings release of Arcadium will be of great interest to investors. The company's earnings report is expected on May 7, 2024. In that report, analysts expect Arcadium to post earnings of $0.04 per share. This would mark a year-over-year decline of 93.33%. Meanwhile, our latest consensus estimate is calling for revenue of $285.45 million, up 12.6% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.28 per share and a revenue of $1.25 billion, indicating changes of -85.19% and +41.28%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Arcadium. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.53% lower. Arcadium is currently sporting a Zacks Rank of #4 (Sell).
In the context of valuation, Arcadium is at present trading with a Forward P/E ratio of 14.29. This expresses a discount compared to the average Forward P/E of 17.4 of its industry.
Investors should also note that ALTM has a PEG ratio of 0.71 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. ALTM's industry had an average PEG ratio of 1.99 as of yesterday's close.
The Chemical - Specialty industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 69, this industry ranks in the top 28% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Arcadium (ALTM) Stock Drops Despite Market Gains: Important Facts to Note
Arcadium (ALTM - Free Report) closed the most recent trading day at $3.87, moving -1.78% from the previous trading session. This move lagged the S&P 500's daily gain of 0.02%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 0.1%.
The the stock of supplier of performance lithium compounds has fallen by 1.99% in the past month, leading the Basic Materials sector's loss of 2.03% and the S&P 500's loss of 3.01%.
The upcoming earnings release of Arcadium will be of great interest to investors. The company's earnings report is expected on May 7, 2024. In that report, analysts expect Arcadium to post earnings of $0.04 per share. This would mark a year-over-year decline of 93.33%. Meanwhile, our latest consensus estimate is calling for revenue of $285.45 million, up 12.6% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.28 per share and a revenue of $1.25 billion, indicating changes of -85.19% and +41.28%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Arcadium. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.53% lower. Arcadium is currently sporting a Zacks Rank of #4 (Sell).
In the context of valuation, Arcadium is at present trading with a Forward P/E ratio of 14.29. This expresses a discount compared to the average Forward P/E of 17.4 of its industry.
Investors should also note that ALTM has a PEG ratio of 0.71 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. ALTM's industry had an average PEG ratio of 1.99 as of yesterday's close.
The Chemical - Specialty industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 69, this industry ranks in the top 28% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.