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

Brokerages forecast that Sociedad Quimica y Minera de Chile (NYSE:SQM) will post $489.19 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Sociedad Quimica y Minera de Chile’s earnings, with the lowest sales estimate coming in at $478.87 million and the highest estimate coming in at $499.51 million. Sociedad Quimica y Minera de Chile posted sales of $543.20 million in the same quarter last year, which suggests a negative year over year growth rate of 9.9%. The business is scheduled to issue its next earnings report 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 year, analysts forecast that the business will report sales of $2.31 billion, with estimates ranging from $2.08 billion to $2.55 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Sociedad Quimica y Minera de Chile.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last released its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.09). Sociedad Quimica y Minera de Chile had a return on equity of 16.04% and a net margin of 16.27%. The firm 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. The firm’s revenue was down 22.6% compared to the same quarter last year.

Several research firms recently weighed in on SQM. ValuEngine lowered shares of Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Financial Group set a $26.00 price objective on shares of Sociedad Quimica y Minera de Chile and gave the stock a “hold” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. lowered shares of Sociedad Quimica y Minera de Chile from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $29.00 to $23.00 in a research note on Thursday, August 22nd. Citigroup reissued a “neutral” rating and set a $25.00 price objective (down previously from $33.00) on shares of Sociedad Quimica y Minera de Chile in a research note on Monday, August 26th. Finally, BMO Capital Markets set a $24.00 price objective on shares of Sociedad Quimica y Minera de Chile and gave the stock a “hold” rating in a research note on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $29.50.

Institutional investors and hedge funds have recently made changes to their positions in the business. Scotia Capital Inc. lifted its stake in Sociedad Quimica y Minera de Chile by 3.0% in the second quarter. Scotia Capital Inc. now owns 16,047 shares of the basic materials company’s stock valued at $499,000 after buying an additional 473 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Sociedad Quimica y Minera de Chile by 494.1% in the second quarter. JPMorgan Chase & Co. now owns 148,998 shares of the basic materials company’s stock valued at $4,701,000 after buying an additional 123,918 shares in the last quarter. Baldwin Brothers Inc. MA bought a new position in Sociedad Quimica y Minera de Chile in the third quarter valued at approximately $82,000. Allianz Asset Management GmbH lifted its stake in Sociedad Quimica y Minera de Chile by 1,719.3% in the second quarter. Allianz Asset Management GmbH now owns 363,864 shares of the basic materials company’s stock valued at $11,320,000 after buying an additional 343,864 shares in the last quarter. Finally, Arden Trust Co bought a new position in Sociedad Quimica y Minera de Chile in the second quarter valued at approximately $350,000. 10.02% of the stock is currently owned by hedge funds and other institutional investors.

Sociedad Quimica y Minera de Chile stock opened at $26.65 on Friday. The company’s 50 day simple moving average is $27.65 and its 200 day simple moving average is $29.45. Sociedad Quimica y Minera de Chile has a fifty-two week low of $22.71 and a fifty-two week high of $47.08. The firm has a market capitalization of $7.29 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 2.54 and a beta of 1.18. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.80 and a quick ratio of 1.83.

About Sociedad Quimica y Minera de Chile

Sociedad QuĂ­mica 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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