This story originally appeared on Zacks
SQM (SQM) shares soared 7.7% in the final trading session to close at $61.24. The transfer was backed by stable volume with considerably additional shares switching fingers than in a regular session. This compares to the stock’s 7.7% attain about the previous four weeks.
SQM’s shares are heading bigger in anticipation of strong third-quarter success. The company’s final results are envisioned to be supported by greater world wide demand from customers and prices for fertilizers on the back again of healthy grower economics as very well as favorable developments in the lithium market place underpinned by sturdy electric powered car sales and improving rates. Larger income volumes and costs throughout its lithium and specialty plant nutrition firms are predicted to drive its best line and margins in the 3rd quarter.
This substances company is envisioned to write-up quarterly earnings of $.51 per share in its upcoming report, which signifies a year-around-calendar year modify of +82.1%. Revenues are predicted to be $665.19 million, up 46.9% from the yr-ago quarter.
Earnings and profits advancement anticipations certainly give a excellent sense of the potential energy in a stock, but empirical research displays that trends in earnings estimate revisions are strongly correlated with near-term stock rate movements.
For SQM, the consensus EPS estimate for the quarter has been revised 23.3% better around the very last 30 days to the present-day degree. And a constructive trend in earnings estimate revision commonly translates into price appreciation. So, make certain to keep an eye on SQM going ahead to see if this recent leap can flip into more energy down the road.
The inventory at this time carries a Zacks Rank 1 (Robust Acquire). You can see the complete checklist of present day Zacks Rank #1 (Robust Obtain) shares listed here >>>>
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