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In the latest trading session, Albemarle (ALB - Free Report) closed at $95.15, marking a +1.27% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.22%. Meanwhile, the Dow experienced a drop of 0.33%, and the technology-dominated Nasdaq saw an increase of 0.76%.
The specialty chemicals company's stock has climbed by 8.52% in the past month, exceeding the Basic Materials sector's loss of 0.56% and the S&P 500's gain of 1.47%.
The investment community will be closely monitoring the performance of Albemarle in its forthcoming earnings report. The company is scheduled to release its earnings on November 6, 2024. In that report, analysts expect Albemarle to post earnings of -$0.21 per share. This would mark a year-over-year decline of 107.66%. Meanwhile, our latest consensus estimate is calling for revenue of $1.39 billion, down 39.81% from the prior-year quarter.
ALB's full-year Zacks Consensus Estimates are calling for earnings of $0.37 per share and revenue of $5.62 billion. These results would represent year-over-year changes of -98.34% and -41.6%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has moved 47.38% lower. Albemarle is currently a Zacks Rank #4 (Sell).
Digging into valuation, Albemarle currently has a Forward P/E ratio of 256.92. This indicates a premium in contrast to its industry's Forward P/E of 18.11.
We can additionally observe that ALB currently boasts a PEG ratio of 16.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ALB's industry had an average PEG ratio of 1.22 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 210, positioning it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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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Albemarle (ALB) Laps the Stock Market: Here's Why
In the latest trading session, Albemarle (ALB - Free Report) closed at $95.15, marking a +1.27% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 0.22%. Meanwhile, the Dow experienced a drop of 0.33%, and the technology-dominated Nasdaq saw an increase of 0.76%.
The specialty chemicals company's stock has climbed by 8.52% in the past month, exceeding the Basic Materials sector's loss of 0.56% and the S&P 500's gain of 1.47%.
The investment community will be closely monitoring the performance of Albemarle in its forthcoming earnings report. The company is scheduled to release its earnings on November 6, 2024. In that report, analysts expect Albemarle to post earnings of -$0.21 per share. This would mark a year-over-year decline of 107.66%. Meanwhile, our latest consensus estimate is calling for revenue of $1.39 billion, down 39.81% from the prior-year quarter.
ALB's full-year Zacks Consensus Estimates are calling for earnings of $0.37 per share and revenue of $5.62 billion. These results would represent year-over-year changes of -98.34% and -41.6%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, the Zacks Consensus EPS estimate has moved 47.38% lower. Albemarle is currently a Zacks Rank #4 (Sell).
Digging into valuation, Albemarle currently has a Forward P/E ratio of 256.92. This indicates a premium in contrast to its industry's Forward P/E of 18.11.
We can additionally observe that ALB currently boasts a PEG ratio of 16.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ALB's industry had an average PEG ratio of 1.22 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 210, positioning it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.