SQM (SQM) shares ended the final buying and selling session 5.6% greater at $53.85. The leap got here on a formidable quantity with a higher-than-average variety of shares altering palms within the session. This compares to the inventory’s 1% acquire over the previous 4 weeks.
SQM’s shares are heading greater in anticipation of robust second-quarter outcomes. The corporate’s outcomes are anticipated to be supported by greater international demand and costs for fertilizers on the again of wholesome grower economics in addition to favorable traits within the lithium market underpinned by robust electrical automobile gross sales and bettering costs. Increased gross sales volumes and costs throughout its lithium and specialty plant vitamin companies are anticipated to drive its prime line and margins within the second quarter.
This chemical substances firm is anticipated to put up quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +68.4%. Revenues are anticipated to be $543.03 million, up 18.4% from the year-ago quarter.
Earnings and income progress expectations definitely give a very good sense of the potential energy in a inventory, however empirical analysis reveals that traits in earnings estimate revisions are strongly correlated with near-term inventory value actions.
For SQM, the consensus EPS estimate for the quarter has remained unchanged over the past 30 days. And a inventory’s value often does not preserve transferring greater within the absence of any pattern in earnings estimate revisions. So, ensure that to keep watch over SQM going ahead to see if this latest leap can flip into extra energy down the street.
The inventory presently carries a Zacks Rank 2 (Purchase). You’ll be able to see the whole listing of at the moment’s Zacks Rank #1 (Robust Purchase) shares right here >>>>
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Sociedad Quimica y Minera S.A. (SQM): Free Inventory Evaluation Report
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