Albemarle (ALB) closed the latest trading day at $95.14, indicating a +0.5% change from the previous session’s end. This change outpaced the S&P 500’s 0.4% gain on the day. On the other hand, the Dow registered a gain of 0.09%, and the technology-centric Nasdaq increased by 0.63%.
Coming into today, shares of the specialty chemicals company had gained 5.98% in the past month. In that same time, the Basic Materials sector gained 7.19%, while the S&P 500 gained 3.76%.
The upcoming earnings release of Albemarle will be of great interest to investors. The company’s earnings report is expected on November 6, 2024. The company is forecasted to report an EPS of -$0.21, showcasing a 107.66% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.39 billion, down 39.81% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.37 per share and a revenue of $5.62 billion, demonstrating changes of -98.34% and -41.6%, respectively, from the preceding year.
It’s also important for investors to be aware of any recent modifications to analyst estimates for Albemarle. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 47.38% lower within the past month. Albemarle is holding a Zacks Rank of #4 (Sell) right now.
With respect to valuation, Albemarle is currently being traded at a Forward P/E ratio of 258.86. This expresses a premium compared to the average Forward P/E of 18.9 of its industry.
It’s also important to note that ALB currently trades at a PEG ratio of 16.18. 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. By the end of yesterday’s trading, the Chemical – Diversified industry had an average PEG ratio of 1.27.
The Chemical – Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 208, which puts it in the bottom 18% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Albemarle Corporation (ALB) : Free Stock Analysis Report
