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AdvanSix (ASIX) closed the most recent trading day at $34.63, moving -0.75% from the previous trading session. This move lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Prior to today's trading, shares of the polymer resins producer had lost 25.34% over the past month. This has lagged the Basic Materials sector's loss of 12.25% and the S&P 500's loss of 0.62% in that time.
Investors will be hoping for strength from AdvanSix as it approaches its next earnings release. The company is expected to report EPS of $2.39, up 56.21% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $557.5 million, up 27.38% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.99 per share and revenue of $2.07 billion, which would represent changes of +66.11% and +22.93%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for AdvanSix. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 4.65% lower. AdvanSix is currently a Zacks Rank #3 (Hold).
Investors should also note AdvanSix's current valuation metrics, including its Forward P/E ratio of 4.36. This represents a discount compared to its industry's average Forward P/E of 14.04.
The Chemical - Specialty industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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