Zacks: Brokerages Anticipate Sociedad Quimica y Minera de Chile (SQM) Will Post Quarterly Sales of $518.56 Million

Wall Street analysts predict that Sociedad Quimica y Minera de Chile (NYSE:SQM) will post sales of $518.56 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Sociedad Quimica y Minera de Chile’s earnings, with the lowest sales estimate coming in at $513.93 million and the highest estimate coming in at $523.18 million. Sociedad Quimica y Minera de Chile reported sales of $553.80 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.4%. The firm is scheduled to report its next earnings results on Wednesday, March 7th.

According to Zacks, analysts expect that Sociedad Quimica y Minera de Chile will report full-year sales of $518.56 million for the current financial year, with estimates ranging from $2.11 billion to $2.12 billion. For the next year, analysts expect that the firm will post sales of $2.44 billion per share, with estimates ranging from $2.43 billion to $2.45 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Sociedad Quimica y Minera de Chile.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last announced its quarterly earnings results on Wednesday, November 22nd. The basic materials company reported $0.43 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.43. Sociedad Quimica y Minera de Chile had a net margin of 18.52% and a return on equity of 17.58%. The firm had revenue of $558.70 million for the quarter, compared to analyst estimates of $515.15 million.

SQM has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of Sociedad Quimica y Minera de Chile to $60.00 and gave the company an “average” rating in a research note on Wednesday, October 25th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Saturday, November 18th. Deutsche Bank upgraded shares of Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $70.00 in a report on Thursday, January 18th. Citigroup upgraded shares of Sociedad Quimica y Minera de Chile from a “neutral” rating to a “buy” rating in a report on Wednesday, January 17th. Finally, Scotiabank reiterated a “hold” rating and issued a $60.00 price objective on shares of Sociedad Quimica y Minera de Chile in a report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.65.

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Personal Financial Services raised its holdings in shares of Sociedad Quimica y Minera de Chile by 326.7% in the fourth quarter. First Personal Financial Services now owns 2,223 shares of the basic materials company’s stock valued at $132,000 after purchasing an additional 1,702 shares during the last quarter. FNY Partners Fund LP raised its holdings in shares of Sociedad Quimica y Minera de Chile by 42,957.1% in the fourth quarter. FNY Partners Fund LP now owns 3,000 shares of the basic materials company’s stock valued at $178,000 after purchasing an additional 3,007 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Sociedad Quimica y Minera de Chile in the fourth quarter valued at approximately $202,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Sociedad Quimica y Minera de Chile in the second quarter valued at approximately $204,000. Finally, Raymond James Trust N.A. acquired a new stake in shares of Sociedad Quimica y Minera de Chile in the third quarter valued at approximately $220,000. Institutional investors own 13.11% of the company’s stock.

Shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) traded down $1.37 on Friday, reaching $54.56. 617,623 shares of the company’s stock were exchanged, compared to its average volume of 1,461,912. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.31 and a current ratio of 3.79. Sociedad Quimica y Minera de Chile has a 1 year low of $30.82 and a 1 year high of $64.20. The company has a market capitalization of $14,630.00, a price-to-earnings ratio of 36.13, a P/E/G ratio of 1.14 and a beta of 0.95.

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Sociedad Quimica y Minera de Chile Company Profile

Sociedad Quimica y Minera de Chile SA (SQM), is a producer of potassium nitrate and iodine. The Company produces specialty plant nutrients, iodine derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals. Its segments include specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services.

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