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Why Albemarle (ALB) Dipped More Than Broader Market Today
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Albemarle (ALB - Free Report) closed the most recent trading day at $166.11, moving -1.65% from the previous trading session. This move lagged the S&P 500's daily loss of 0.57%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 1.15%.
Shares of the specialty chemicals company witnessed a loss of 3.89% over the previous month, trailing the performance of the Basic Materials sector with its gain of 3.28%, and the S&P 500's gain of 2.14%.
The investment community will be closely monitoring the performance of Albemarle in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $3.08, reflecting a 2700% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.48 billion, up 11.36% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.39 per share and revenue of $5.99 billion, which would represent changes of +1668.35% and +16.45%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Albemarle. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.74% higher. Albemarle presently features a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Albemarle is currently exchanging hands at a Forward P/E ratio of 13.64. This signifies a discount in comparison to the average Forward P/E of 16.52 for its industry.
We can also see that ALB currently has a PEG ratio of 0.85. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Chemical - Diversified industry had an average PEG ratio of 1.29.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
View the Zacks #1 Rank List
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Why Albemarle (ALB) Dipped More Than Broader Market Today
Albemarle (ALB - Free Report) closed the most recent trading day at $166.11, moving -1.65% from the previous trading session. This move lagged the S&P 500's daily loss of 0.57%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, lost 1.15%.
Shares of the specialty chemicals company witnessed a loss of 3.89% over the previous month, trailing the performance of the Basic Materials sector with its gain of 3.28%, and the S&P 500's gain of 2.14%.
The investment community will be closely monitoring the performance of Albemarle in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $3.08, reflecting a 2700% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.48 billion, up 11.36% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $12.39 per share and revenue of $5.99 billion, which would represent changes of +1668.35% and +16.45%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Albemarle. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.74% higher. Albemarle presently features a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Albemarle is currently exchanging hands at a Forward P/E ratio of 13.64. This signifies a discount in comparison to the average Forward P/E of 16.52 for its industry.
We can also see that ALB currently has a PEG ratio of 0.85. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Chemical - Diversified industry had an average PEG ratio of 1.29.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.