Sociedad Quimica y Minera (NYSE:SQM) Posts Quarterly Earnings Results, Misses Expectations By $0.37 EPS

Sociedad Quimica y Minera (NYSE:SQMGet Free Report) announced its quarterly earnings data on Tuesday. The basic materials company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.37), FiscalAI reports. Sociedad Quimica y Minera had a net margin of 12.85% and a return on equity of 9.69%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.69 billion.

Sociedad Quimica y Minera Trading Up 0.5%

NYSE:SQM opened at $80.60 on Wednesday. The firm has a market capitalization of $23.02 billion, a price-to-earnings ratio of 39.32, a PEG ratio of 0.25 and a beta of 1.00. The firm’s fifty day simple moving average is $84.29 and its 200 day simple moving average is $74.97. Sociedad Quimica y Minera has a twelve month low of $29.36 and a twelve month high of $98.00.

Sociedad Quimica y Minera Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 8th were issued a dividend of $1.0295 per share. The ex-dividend date was Friday, May 8th. This represents a $4.12 annualized dividend and a dividend yield of 5.1%. Sociedad Quimica y Minera’s payout ratio is presently 130.24%.

Hedge Funds Weigh In On Sociedad Quimica y Minera

Several hedge funds and other institutional investors have recently made changes to their positions in SQM. Royal Bank of Canada lifted its holdings in shares of Sociedad Quimica y Minera by 18.5% during the 1st quarter. Royal Bank of Canada now owns 198,789 shares of the basic materials company’s stock valued at $7,898,000 after acquiring an additional 31,066 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Sociedad Quimica y Minera by 53.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 358,646 shares of the basic materials company’s stock valued at $14,249,000 after acquiring an additional 125,506 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Sociedad Quimica y Minera by 20.4% during the 2nd quarter. Cetera Investment Advisers now owns 20,886 shares of the basic materials company’s stock valued at $737,000 after acquiring an additional 3,545 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Sociedad Quimica y Minera by 38.3% during the 2nd quarter. Invesco Ltd. now owns 159,027 shares of the basic materials company’s stock valued at $5,609,000 after acquiring an additional 44,062 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Sociedad Quimica y Minera by 3.0% during the 2nd quarter. First Trust Advisors LP now owns 124,575 shares of the basic materials company’s stock valued at $4,394,000 after acquiring an additional 3,634 shares in the last quarter. Institutional investors and hedge funds own 12.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Scotiabank boosted their price objective on shares of Sociedad Quimica y Minera from $90.00 to $100.00 and gave the company a “sector outperform” rating in a research note on Wednesday, March 4th. BMO Capital Markets reissued an “outperform” rating on shares of Sociedad Quimica y Minera in a research note on Wednesday, March 4th. Bank of America boosted their price objective on shares of Sociedad Quimica y Minera from $49.00 to $53.00 and gave the company an “underperform” rating in a research note on Wednesday, March 25th. Zacks Research cut shares of Sociedad Quimica y Minera from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Sociedad Quimica y Minera in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sociedad Quimica y Minera currently has an average rating of “Hold” and a consensus price target of $71.42.

Check Out Our Latest Research Report on SQM

About Sociedad Quimica y Minera

(Get Free Report)

Sociedad Química y Minera de Chile SA (NYSE: SQM) is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM’s product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.

Further Reading

Earnings History for Sociedad Quimica y Minera (NYSE:SQM)

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