We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Albemarle (ALB) Outperforms Broader Market: What You Need to Know
Read MoreHide Full Article
Albemarle (ALB - Free Report) closed the latest trading day at $101.92, indicating a +1.66% change from the previous session's end. This change outpaced the S&P 500's 0.71% gain on the day. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 0.6%.
The specialty chemicals company's shares have seen an increase of 27.52% over the last month, surpassing the Basic Materials sector's gain of 5.75% and the S&P 500's gain of 6.41%.
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 November 6, 2024. The company's upcoming EPS is projected at -$0.10, signifying a 103.65% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.39 billion, showing a 39.81% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.46 per share and a revenue of $5.62 billion, signifying shifts of -97.93% and -41.6%, respectively, from the last year.
Any recent changes to analyst estimates for Albemarle should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 33.65% lower. Albemarle is currently sporting a Zacks Rank of #4 (Sell).
In the context of valuation, Albemarle is at present trading with a Forward P/E ratio of 217.43. This denotes a premium relative to the industry's average Forward P/E of 18.2.
It is also worth noting that ALB currently has a PEG ratio of 13.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. ALB's industry had an average PEG ratio of 1.19 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 186, finds itself in the bottom 27% echelons 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Albemarle (ALB) Outperforms Broader Market: What You Need to Know
Albemarle (ALB - Free Report) closed the latest trading day at $101.92, indicating a +1.66% change from the previous session's end. This change outpaced the S&P 500's 0.71% gain on the day. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 0.6%.
The specialty chemicals company's shares have seen an increase of 27.52% over the last month, surpassing the Basic Materials sector's gain of 5.75% and the S&P 500's gain of 6.41%.
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 November 6, 2024. The company's upcoming EPS is projected at -$0.10, signifying a 103.65% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.39 billion, showing a 39.81% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.46 per share and a revenue of $5.62 billion, signifying shifts of -97.93% and -41.6%, respectively, from the last year.
Any recent changes to analyst estimates for Albemarle should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 33.65% lower. Albemarle is currently sporting a Zacks Rank of #4 (Sell).
In the context of valuation, Albemarle is at present trading with a Forward P/E ratio of 217.43. This denotes a premium relative to the industry's average Forward P/E of 18.2.
It is also worth noting that ALB currently has a PEG ratio of 13.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. ALB's industry had an average PEG ratio of 1.19 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 186, finds itself in the bottom 27% echelons 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.