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In the latest trading session, Albemarle (ALB) closed at $169.25, marking a +1.73% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.39%. Meanwhile, the Dow gained 1.57%, and the Nasdaq, a tech-heavy index, added 1.56%.
Wall Street will be looking for positivity from ALB as it approaches its next earnings report date. This is expected to be February 17, 2021. On that day, ALB is projected to report earnings of $1.09 per share, which would represent a year-over-year decline of 36.99%. Our most recent consensus estimate is calling for quarterly revenue of $839.20 million, down 15.45% from the year-ago period.
Investors might also notice recent changes to analyst estimates for ALB. 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.
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.
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. Within the past 30 days, our consensus EPS projection has moved 0.28% lower. ALB is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that ALB has a Forward P/E ratio of 40.73 right now. Its industry sports an average Forward P/E of 16.92, so we one might conclude that ALB is trading at a premium comparatively.
It is also worth noting that ALB currently has a PEG ratio of 3.43. 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. ALB's industry had an average PEG ratio of 3.37 as of yesterday's close.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 29, putting it in the top 12% 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.
To follow ALB in the coming trading sessions, be sure to utilize Zacks.com.