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Here's Why Albemarle (ALB) Fell More Than Broader Market
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Albemarle (ALB - Free Report) closed the most recent trading day at $163.26, moving -1.55% from the previous trading session. This move lagged the S&P 500's daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.28%.
Shares of the specialty chemicals company witnessed a loss of 3.15% over the previous month, beating the performance of the Basic Materials sector with its loss of 9.78%, and the S&P 500's loss of 3.59%.
Investors will be eagerly watching for the performance of Albemarle in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.78, showcasing a 533.33% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.28 billion, showing a 18.91% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.15 per share and a revenue of $5.58 billion, signifying shifts of +1131.65% and +8.48%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Albemarle. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 41% rise in the Zacks Consensus EPS estimate. Albemarle is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Albemarle is currently exchanging hands at a Forward P/E ratio of 20.35. This denotes a premium relative to the industry average Forward P/E of 16.5.
We can also see that ALB currently has a PEG ratio of 1.27. 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. ALB's industry had an average PEG ratio of 1.53 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 206, positioning it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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Here's Why Albemarle (ALB) Fell More Than Broader Market
Albemarle (ALB - Free Report) closed the most recent trading day at $163.26, moving -1.55% from the previous trading session. This move lagged the S&P 500's daily loss of 0.28%. On the other hand, the Dow registered a loss of 0.44%, and the technology-centric Nasdaq decreased by 0.28%.
Shares of the specialty chemicals company witnessed a loss of 3.15% over the previous month, beating the performance of the Basic Materials sector with its loss of 9.78%, and the S&P 500's loss of 3.59%.
Investors will be eagerly watching for the performance of Albemarle in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.78, showcasing a 533.33% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.28 billion, showing a 18.91% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.15 per share and a revenue of $5.58 billion, signifying shifts of +1131.65% and +8.48%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Albemarle. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 41% rise in the Zacks Consensus EPS estimate. Albemarle is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Albemarle is currently exchanging hands at a Forward P/E ratio of 20.35. This denotes a premium relative to the industry average Forward P/E of 16.5.
We can also see that ALB currently has a PEG ratio of 1.27. 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. ALB's industry had an average PEG ratio of 1.53 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 206, positioning it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.