Here's Why Albemarle (ALB) Gained But Lagged the Market Today

In the latest market close, Albemarle (ALB) reached $77.67, with a +0.15% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.16% for the day. Meanwhile, the Dow experienced a rise of 0.01%, and the technology-dominated Nasdaq saw an increase of 0.46%.The specialty chemicals company's stock has dropped by 4.29% in the past month, falling short of the Basic Materials sector's gain of 0.55% and the S&P 500's loss of 3.59%.Market participants will be closely following the financial results of Albemarle in its upcoming release. The company is forecasted to report an EPS of -$0.37, showcasing a 242.31% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.2 billion, showing a 11.86% drop compared to the year-ago quarter.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.04 per share and a revenue of $5.13 billion, indicating changes of +98.29% and -4.55%, respectively, from the former year.Investors should also pay attention to any latest changes in analyst estimates for Albemarle. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Albemarle holds a Zacks Rank of #3 (Hold).The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 18% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want 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