The latest trading session saw Albemarle (ALB – Free Report) ending at $85.23, denoting a -0.99% adjustment from its last day’s close. The stock trailed the S&P 500, which registered a daily loss of 0.22%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.16%.
The the stock of specialty chemicals company has fallen by 16.11% in the past month, lagging the Basic Materials sector’s loss of 9.71% and the S&P 500’s loss of 2.36%.
Market participants will be closely following the financial results of Albemarle in its upcoming release. On that day, Albemarle is projected to report earnings of -$0.36 per share, which would represent a year-over-year decline of 119.46%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.4 billion, down 40.44% from the year-ago period.
It’s also important for investors to be aware of any recent modifications to analyst estimates for Albemarle. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we’ve crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Albemarle presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Albemarle is presently being traded at a Forward P/E ratio of 46.53. This expresses a premium compared to the average Forward P/E of 13.41 of its industry.
We can also see that ALB currently has a PEG ratio of 2.91. 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 0.89 as of yesterday’s close.
The Chemical – Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 17% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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