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Albemarle (ALB) Stock Sinks As Market Gains: What You Should Know
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Albemarle (ALB - Free Report) closed the most recent trading day at $205.27, moving -0.31% from the previous trading session. This move lagged the S&P 500's daily gain of 0.09%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 2.51%.
Coming into today, shares of the specialty chemicals company had lost 3.42% in the past month. In that same time, the Basic Materials sector gained 7.78%, while the S&P 500 gained 6.17%.
Wall Street will be looking for positivity from Albemarle as it approaches its next earnings report date. This is expected to be May 3, 2023. In that report, analysts expect Albemarle to post earnings of $7.04 per share. This would mark year-over-year growth of 195.8%. Meanwhile, our latest consensus estimate is calling for revenue of $2.74 billion, up 142.66% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $27.07 per share and revenue of $11.79 billion, which would represent changes of +23.27% and +61.08%, respectively, from the prior year.
Any recent changes to analyst estimates for Albemarle should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Within the past 30 days, our consensus EPS projection has moved 10.38% lower. Albemarle currently has a Zacks Rank of #3 (Hold).
Investors should also note Albemarle's current valuation metrics, including its Forward P/E ratio of 7.61. This represents a discount compared to its industry's average Forward P/E of 14.51.
It is also worth noting that ALB currently has a PEG ratio of 0.48. 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 industry currently had an average PEG ratio of 2.17 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Albemarle (ALB) Stock Sinks As Market Gains: What You Should Know
Albemarle (ALB - Free Report) closed the most recent trading day at $205.27, moving -0.31% from the previous trading session. This move lagged the S&P 500's daily gain of 0.09%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 2.51%.
Coming into today, shares of the specialty chemicals company had lost 3.42% in the past month. In that same time, the Basic Materials sector gained 7.78%, while the S&P 500 gained 6.17%.
Wall Street will be looking for positivity from Albemarle as it approaches its next earnings report date. This is expected to be May 3, 2023. In that report, analysts expect Albemarle to post earnings of $7.04 per share. This would mark year-over-year growth of 195.8%. Meanwhile, our latest consensus estimate is calling for revenue of $2.74 billion, up 142.66% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $27.07 per share and revenue of $11.79 billion, which would represent changes of +23.27% and +61.08%, respectively, from the prior year.
Any recent changes to analyst estimates for Albemarle should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Within the past 30 days, our consensus EPS projection has moved 10.38% lower. Albemarle currently has a Zacks Rank of #3 (Hold).
Investors should also note Albemarle's current valuation metrics, including its Forward P/E ratio of 7.61. This represents a discount compared to its industry's average Forward P/E of 14.51.
It is also worth noting that ALB currently has a PEG ratio of 0.48. 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 industry currently had an average PEG ratio of 2.17 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 217, putting it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.