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Albemarle (ALB) Outpaces Stock Market Gains: What You Should Know
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Albemarle (ALB - Free Report) closed the most recent trading day at $285.90, moving +1.58% from the previous trading session. This change outpaced the S&P 500's 1.05% gain on the day. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 9.7%.
Coming into today, shares of the specialty chemicals company had gained 31.21% in the past month. In that same time, the Basic Materials sector gained 11.42%, while the S&P 500 gained 6.27%.
Investors will be hoping for strength from Albemarle as it approaches its next earnings release, which is expected to be February 15, 2023. The company is expected to report EPS of $7.89, up 681.19% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.63 billion, up 193.73% from the year-ago period.
Any recent changes to analyst estimates for Albemarle should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 past month, the Zacks Consensus EPS estimate has moved 0.53% lower. Albemarle currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Albemarle has a Forward P/E ratio of 10.65 right now. This valuation marks a discount compared to its industry's average Forward P/E of 12.64.
Investors should also note that ALB has a PEG ratio of 0.67 right now. 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. The Chemical - Diversified was holding an average PEG ratio of 2.12 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 212, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Albemarle (ALB) Outpaces Stock Market Gains: What You Should Know
Albemarle (ALB - Free Report) closed the most recent trading day at $285.90, moving +1.58% from the previous trading session. This change outpaced the S&P 500's 1.05% gain on the day. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 9.7%.
Coming into today, shares of the specialty chemicals company had gained 31.21% in the past month. In that same time, the Basic Materials sector gained 11.42%, while the S&P 500 gained 6.27%.
Investors will be hoping for strength from Albemarle as it approaches its next earnings release, which is expected to be February 15, 2023. The company is expected to report EPS of $7.89, up 681.19% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.63 billion, up 193.73% from the year-ago period.
Any recent changes to analyst estimates for Albemarle should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 past month, the Zacks Consensus EPS estimate has moved 0.53% lower. Albemarle currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Albemarle has a Forward P/E ratio of 10.65 right now. This valuation marks a discount compared to its industry's average Forward P/E of 12.64.
Investors should also note that ALB has a PEG ratio of 0.67 right now. 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. The Chemical - Diversified was holding an average PEG ratio of 2.12 at yesterday's closing price.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 212, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.