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Surging Earnings Estimates Signal Good News for Sociedad Quimica (SQM)

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Sociedad Química y Minera de Chile S.A. (SQM - Free Report) produces fertilizer and iodine and manufactures industrial chemicals and iodine derivative products that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SQM’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Sociedad Química could be a solid choice for investors.

Current Quarter Estimates for SQM

In the past 30 days, one estimate has gone higher for Sociedad Química while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 34 cents a share 30 days ago, to 40 cents today, a move of 17.6%.

Current Year Estimates for SQM

Meanwhile, Sociedad Química current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $1.49 per share 30 days ago to $1.61 per share today, an increase of 8.1%.

Sociedad Quimica y Minera S.A. Price and Consensus

Sociedad Quimica y Minera S.A. Price and Consensus | Sociedad Quimica y Minera S.A. Quote

Bottom Line

The stock has also started to move higher lately, adding 18.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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