Zacks: Analysts Expect Sociedad Quimica y Minera de Chile (NYSE:SQM) Will Announce Quarterly Sales of $489.19 Million

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Wall Street analysts forecast that Sociedad Quimica y Minera de Chile (NYSE:SQM) will post sales of $489.19 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Sociedad Quimica y Minera de Chile’s earnings. The highest sales estimate is $499.51 million and the lowest is $478.87 million. Sociedad Quimica y Minera de Chile reported sales of $543.20 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 9.9%. The company is expected to announce its next quarterly earnings results after the market closes on Wednesday, November 20th.

On average, analysts expect that Sociedad Quimica y Minera de Chile will report full-year sales of $2.01 billion for the current year, with estimates ranging from $1.96 billion to $2.04 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.31 billion, with estimates ranging from $2.08 billion to $2.55 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Sociedad Quimica y Minera de Chile.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last issued its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). Sociedad Quimica y Minera de Chile had a net margin of 16.27% and a return on equity of 16.04%. The company had revenue of $494.10 million for the quarter, compared to the consensus estimate of $525.73 million. During the same period in the previous year, the business earned $0.51 EPS. Sociedad Quimica y Minera de Chile’s revenue for the quarter was down 22.6% compared to the same quarter last year.

A number of research firms have commented on SQM. BMO Capital Markets set a $24.00 price target on Sociedad Quimica y Minera de Chile and gave the company a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley upgraded Sociedad Quimica y Minera de Chile from an “underweight” rating to an “equal weight” rating in a research note on Friday, July 12th. Jefferies Financial Group set a $26.00 price target on Sociedad Quimica y Minera de Chile and gave the company a “hold” rating in a research note on Friday, August 23rd. ValuEngine upgraded Sociedad Quimica y Minera de Chile from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. cut Sociedad Quimica y Minera de Chile from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $29.00 to $23.00 in a research note on Thursday, August 22nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Sociedad Quimica y Minera de Chile presently has a consensus rating of “Hold” and an average price target of $29.50.

Sociedad Quimica y Minera de Chile stock traded up $0.01 during midday trading on Thursday, reaching $27.55. The company’s stock had a trading volume of 945,353 shares, compared to its average volume of 743,102. The stock’s 50-day simple moving average is $27.11 and its 200-day simple moving average is $30.34. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.80 and a quick ratio of 1.83. Sociedad Quimica y Minera de Chile has a 52-week low of $22.71 and a 52-week high of $48.63. The stock has a market capitalization of $7.25 billion, a P/E ratio of 16.50, a PEG ratio of 2.56 and a beta of 1.16.

The firm also recently declared a — dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were paid a $0.2667 dividend. This represents a yield of 4.3%. The ex-dividend date of this dividend was Thursday, September 5th. Sociedad Quimica y Minera de Chile’s dividend payout ratio (DPR) is presently 41.32%.

A number of institutional investors have recently added to or reduced their stakes in SQM. Stonebridge Capital Advisors LLC purchased a new position in Sociedad Quimica y Minera de Chile during the second quarter valued at approximately $37,000. Cornerstone Advisors Inc. raised its position in Sociedad Quimica y Minera de Chile by 156.5% during the second quarter. Cornerstone Advisors Inc. now owns 1,285 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 784 shares in the last quarter. Parallel Advisors LLC raised its position in Sociedad Quimica y Minera de Chile by 453.9% during the second quarter. Parallel Advisors LLC now owns 1,346 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 1,103 shares in the last quarter. Baldwin Brothers Inc. MA purchased a new position in Sociedad Quimica y Minera de Chile during the third quarter valued at approximately $82,000. Finally, Assetmark Inc. raised its position in Sociedad Quimica y Minera de Chile by 70.5% during the second quarter. Assetmark Inc. now owns 3,242 shares of the basic materials company’s stock valued at $101,000 after acquiring an additional 1,341 shares in the last quarter. Institutional investors own 10.04% of the company’s stock.

About Sociedad Quimica y Minera de Chile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, industrial chemicals, potassium, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty mixes, and other specialty fertilizers for crops, such as vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.

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