Albemarle (ALB) Outperforms Broader Market: What You Need to Know

Albemarle (ALB) closed the most recent trading day at $75.05, moving +2.36% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.85%. Meanwhile, the Dow gained 1.36%, and the Nasdaq, a tech-heavy index, added 0.72%. Shares of the specialty chemicals company have depreciated by 10.22% over the course of the past month, underperforming the Basic Materials sector's gain of 4.85%, and the S&P 500's gain of 2.38%.Analysts and investors alike will be keeping a close eye on the performance of Albemarle in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.97, signifying a 37.42% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.27 billion, down 5.92% from the year-ago period. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.85 per share and revenue of $4.98 billion, indicating changes of +20.94% and -7.48%, respectively, compared to the previous year. Any recent changes to analyst estimates for Albemarle should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 10.68% increase. Albemarle is currently a Zacks Rank #3 (Hold). The Chemical - Diversified industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 232, positioning it in the bottom 7% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Albemarle Corporation (ALB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks