Brokerages Expect Sociedad Quimica y Minera de Chile (SQM) to Announce $0.36 Earnings Per Share

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Equities analysts expect Sociedad Quimica y Minera de Chile (NYSE:SQM) to announce earnings of $0.36 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Sociedad Quimica y Minera de Chile’s earnings. The highest EPS estimate is $0.42 and the lowest is $0.29. Sociedad Quimica y Minera de Chile posted earnings of $0.43 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 16.3%. The business is scheduled to announce its next quarterly earnings report on Thursday, May 23rd.

On average, analysts expect that Sociedad Quimica y Minera de Chile will report full-year earnings of $1.59 per share for the current fiscal year, with EPS estimates ranging from $1.37 to $1.77. For the next fiscal year, analysts forecast that the business will report earnings of $1.85 per share, with EPS estimates ranging from $1.58 to $2.01. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that cover Sociedad Quimica y Minera de Chile.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last posted its quarterly earnings results on Thursday, February 28th. The basic materials company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.03). The company had revenue of $565.20 million during the quarter, compared to the consensus estimate of $560.66 million. Sociedad Quimica y Minera de Chile had a net margin of 19.41% and a return on equity of 20.29%.

A number of research analysts have weighed in on the company. Bank of America downgraded Sociedad Quimica y Minera de Chile from a “buy” rating to a “neutral” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. downgraded Sociedad Quimica y Minera de Chile from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $51.00 to $43.00 in a research note on Friday, March 1st. Zacks Investment Research upgraded Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Saturday, January 19th. Santander downgraded Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Morgan Stanley restated an “underweight” rating and issued a $35.00 price target (down from $44.00) on shares of Sociedad Quimica y Minera de Chile in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $45.43.

Several hedge funds and other institutional investors have recently modified their holdings of SQM. FMR LLC boosted its stake in shares of Sociedad Quimica y Minera de Chile by 106.9% during the 4th quarter. FMR LLC now owns 2,126,310 shares of the basic materials company’s stock worth $81,438,000 after acquiring an additional 1,098,410 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Sociedad Quimica y Minera de Chile by 73.7% during the 3rd quarter. Macquarie Group Ltd. now owns 1,171,734 shares of the basic materials company’s stock worth $53,572,000 after acquiring an additional 497,339 shares during the period. Marshall Wace LLP boosted its stake in shares of Sociedad Quimica y Minera de Chile by 650.2% during the 3rd quarter. Marshall Wace LLP now owns 401,998 shares of the basic materials company’s stock worth $18,379,000 after acquiring an additional 348,412 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Sociedad Quimica y Minera de Chile by 68.9% during the 3rd quarter. Clearbridge Investments LLC now owns 686,414 shares of the basic materials company’s stock worth $31,383,000 after acquiring an additional 280,066 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Sociedad Quimica y Minera de Chile by 26.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,094,980 shares of the basic materials company’s stock worth $41,938,000 after acquiring an additional 226,322 shares during the period. Institutional investors own 11.10% of the company’s stock.

SQM stock opened at $38.58 on Monday. The company has a quick ratio of 2.67, a current ratio of 4.32 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 1.54 and a beta of 1.08. Sociedad Quimica y Minera de Chile has a twelve month low of $36.57 and a twelve month high of $58.69.

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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