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Albemarle (ALB) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Albemarle (ALB - Free Report) closed at $146.89, marking a +1.67% move from the previous day. This change outpaced the S&P 500's 0.57% loss on the day. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq lost 1.64%.
The specialty chemicals company's shares have seen an increase of 20.42% over the last month, surpassing the Basic Materials sector's gain of 4.35% and the S&P 500's gain of 4%.
Analysts and investors alike will be keeping a close eye on the performance of Albemarle in its upcoming earnings disclosure. On that day, Albemarle is projected to report earnings of $1.70 per share, which would represent a year-over-year decline of 80.28%. At the same time, our most recent consensus estimate is projecting a revenue of $2.43 billion, reflecting a 7.33% fall from the equivalent quarter last year.
Investors might also notice recent changes to analyst estimates for Albemarle. 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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, the Zacks Consensus EPS estimate has remained steady. Right now, Albemarle possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Albemarle is holding a Forward P/E ratio of 11.18. This valuation marks a discount compared to its industry's average Forward P/E of 16.46.
We can also see that ALB currently has a PEG ratio of 0.99. 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 2.35.
The Chemical - Diversified industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 235, positioning it in the bottom 7% 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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Albemarle (ALB) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Albemarle (ALB - Free Report) closed at $146.89, marking a +1.67% move from the previous day. This change outpaced the S&P 500's 0.57% loss on the day. At the same time, the Dow added 0.07%, and the tech-heavy Nasdaq lost 1.64%.
The specialty chemicals company's shares have seen an increase of 20.42% over the last month, surpassing the Basic Materials sector's gain of 4.35% and the S&P 500's gain of 4%.
Analysts and investors alike will be keeping a close eye on the performance of Albemarle in its upcoming earnings disclosure. On that day, Albemarle is projected to report earnings of $1.70 per share, which would represent a year-over-year decline of 80.28%. At the same time, our most recent consensus estimate is projecting a revenue of $2.43 billion, reflecting a 7.33% fall from the equivalent quarter last year.
Investors might also notice recent changes to analyst estimates for Albemarle. 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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, the Zacks Consensus EPS estimate has remained steady. Right now, Albemarle possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, Albemarle is holding a Forward P/E ratio of 11.18. This valuation marks a discount compared to its industry's average Forward P/E of 16.46.
We can also see that ALB currently has a PEG ratio of 0.99. 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 2.35.
The Chemical - Diversified industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 235, positioning it in the bottom 7% 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.