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

Sociedad Quimica y Minera (NYSE:SQM) released 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 firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.69 billion.

Sociedad Quimica y Minera Price Performance

Shares of SQM stock opened at $80.60 on Wednesday. The business’s 50 day simple moving average is $84.29 and its 200 day simple moving average is $74.97. Sociedad Quimica y Minera has a one year low of $29.36 and a one year high of $98.00. The stock has a market capitalization of $23.02 billion, a PE ratio of 39.32, a PEG ratio of 0.25 and a beta of 1.00.

Sociedad Quimica y Minera Announces Dividend

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

Analysts Set New Price Targets

SQM has been the subject of several recent research reports. Wall Street Zen raised Sociedad Quimica y Minera from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sociedad Quimica y Minera in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sociedad Quimica y Minera in a research note on Friday, March 27th. Bank of America upped their price objective on 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. Finally, Scotiabank upped their price objective on 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $71.42.

Institutional Trading of Sociedad Quimica y Minera

Several institutional investors have recently added to or reduced their stakes in SQM. Fulcrum Asset Management LLP bought a new stake in Sociedad Quimica y Minera in the third quarter valued at approximately $43,000. Triumph Capital Management bought a new stake in Sociedad Quimica y Minera in the third quarter valued at approximately $49,000. Caitong International Asset Management Co. Ltd bought a new stake in Sociedad Quimica y Minera in the fourth quarter valued at approximately $50,000. Ameriflex Group Inc. bought a new stake in Sociedad Quimica y Minera in the fourth quarter valued at approximately $60,000. Finally, Advisory Services Network LLC bought a new stake in Sociedad Quimica y Minera in the third quarter valued at approximately $62,000. 12.41% of the stock is currently owned by institutional investors.

Sociedad Quimica y Minera Company Profile

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.