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Why Albemarle (ALB) Dipped More Than Broader Market Today
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Albemarle (ALB - Free Report) ended the recent trading session at $122.11, demonstrating a -3.02% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.59%. Elsewhere, the Dow saw a downswing of 0.6%, while the tech-heavy Nasdaq depreciated by 0.65%.
Coming into today, shares of the specialty chemicals company had lost 1.89% in the past month. In that same time, the Basic Materials sector gained 2.83%, while the S&P 500 lost 1.37%.
The investment community will be closely monitoring the performance of Albemarle in its forthcoming earnings report. The company is expected to report EPS of $2.55, up 1442.11% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.52 billion, up 16.07% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.39 per share and a revenue of $6.1 billion, signifying shifts of +1541.77% and +18.57%, respectively, from the last 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. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 4.37% fall in the Zacks Consensus EPS estimate. Currently, Albemarle is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Albemarle is presently being traded at a Forward P/E ratio of 11.05. This expresses a discount compared to the average Forward P/E of 16.99 of its industry.
One should further note that ALB currently holds a PEG ratio of 0.74. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Chemical - Diversified industry had an average PEG ratio of 1.19 as trading concluded yesterday.
The Chemical - Diversified industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 99, placing it within the top 41% of over 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.
To follow ALB in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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Why Albemarle (ALB) Dipped More Than Broader Market Today
Albemarle (ALB - Free Report) ended the recent trading session at $122.11, demonstrating a -3.02% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.59%. Elsewhere, the Dow saw a downswing of 0.6%, while the tech-heavy Nasdaq depreciated by 0.65%.
Coming into today, shares of the specialty chemicals company had lost 1.89% in the past month. In that same time, the Basic Materials sector gained 2.83%, while the S&P 500 lost 1.37%.
The investment community will be closely monitoring the performance of Albemarle in its forthcoming earnings report. The company is expected to report EPS of $2.55, up 1442.11% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.52 billion, up 16.07% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.39 per share and a revenue of $6.1 billion, signifying shifts of +1541.77% and +18.57%, respectively, from the last 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. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 4.37% fall in the Zacks Consensus EPS estimate. Currently, Albemarle is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Albemarle is presently being traded at a Forward P/E ratio of 11.05. This expresses a discount compared to the average Forward P/E of 16.99 of its industry.
One should further note that ALB currently holds a PEG ratio of 0.74. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Chemical - Diversified industry had an average PEG ratio of 1.19 as trading concluded yesterday.
The Chemical - Diversified industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 99, placing it within the top 41% of over 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.
To follow ALB in the coming trading sessions, be sure to utilize Zacks.com.