Sociedad Quimica y Minera (NYSE:SQM) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Sociedad Quimica y Minera (NYSE:SQM) announced its quarterly earnings data on Tuesday. The basic materials company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.06), Briefing.com reports. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Sociedad Quimica y Minera had a net margin of 11.29% and a return on equity of 9.09%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share.

Sociedad Quimica y Minera Trading Up 0.1%

NYSE:SQM traded up $0.09 on Thursday, reaching $63.19. The stock had a trading volume of 363,842 shares, compared to its average volume of 1,322,651. The firm’s fifty day moving average is $46.21 and its two-hundred day moving average is $40.73. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.92 and a quick ratio of 1.93. The company has a market cap of $18.05 billion, a price-to-earnings ratio of 38.03 and a beta of 1.14. Sociedad Quimica y Minera has a 12-month low of $29.36 and a 12-month high of $64.60.

Institutional Investors Weigh In On Sociedad Quimica y Minera

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SQM. Fulcrum Asset Management LLP acquired a new stake in shares of Sociedad Quimica y Minera during the third quarter worth approximately $43,000. Triumph Capital Management bought a new stake in shares of Sociedad Quimica y Minera in the 3rd quarter worth about $49,000. Advisory Services Network LLC bought a new position in shares of Sociedad Quimica y Minera during the third quarter worth about $62,000. Northwestern Mutual Wealth Management Co. grew its stake in Sociedad Quimica y Minera by 26.9% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,905 shares of the basic materials company’s stock worth $125,000 after purchasing an additional 616 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Sociedad Quimica y Minera in the second quarter valued at about $146,000. Hedge funds and other institutional investors own 12.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on SQM shares. Jefferies Financial Group reissued a “hold” rating and set a $50.00 price objective (down from $53.00) on shares of Sociedad Quimica y Minera in a research report on Monday, October 6th. Rothschild Redb upgraded shares of Sociedad Quimica y Minera to a “hold” rating in a research note on Friday, October 24th. Itau BBA Securities started coverage on Sociedad Quimica y Minera in a research note on Thursday, September 4th. They set an “outperform” rating and a $55.00 price objective for the company. Rothschild & Co Redburn began coverage on Sociedad Quimica y Minera in a report on Friday, October 24th. They issued a “neutral” rating and a $54.00 target price on the stock. Finally, Bank of America increased their price target on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the stock an “underperform” rating in a report on Tuesday, August 26th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Sociedad Quimica y Minera has a consensus rating of “Hold” and a consensus price target of $46.81.

About Sociedad Quimica y Minera

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.