Sociedad Quimica y Minera (NYSE:SQM) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Sociedad Quimica y Minera (NYSE:SQM) issued its earnings results on Tuesday. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.07), Briefing.com reports. Sociedad Quimica y Minera had a net margin of 11.29% and a return on equity of 9.09%. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis.

Sociedad Quimica y Minera Stock Down 0.2%

Shares of NYSE SQM opened at $59.37 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 1.93 and a debt-to-equity ratio of 0.70. Sociedad Quimica y Minera has a 12-month low of $29.36 and a 12-month high of $61.95. The firm’s 50-day moving average price is $45.79 and its 200-day moving average price is $40.57. The stock has a market capitalization of $16.96 billion, a price-to-earnings ratio of 35.55 and a beta of 1.14.

Institutional Investors Weigh In On Sociedad Quimica y Minera

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position 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 purchasing an additional 31,066 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Sociedad Quimica y Minera by 53.8% during the first quarter. Goldman Sachs Group Inc. now owns 358,646 shares of the basic materials company’s stock worth $14,249,000 after buying an additional 125,506 shares during the period. Cetera Investment Advisers increased its position in Sociedad Quimica y Minera by 20.4% during the second 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 during the last quarter. Invesco Ltd. raised its stake in shares of Sociedad Quimica y Minera by 38.3% in the second 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 during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Sociedad Quimica y Minera by 3.0% in the 2nd quarter. First Trust Advisors LP now owns 124,575 shares of the basic materials company’s stock worth $4,394,000 after acquiring an additional 3,634 shares during the last quarter. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SQM has been the subject of a number of research analyst reports. Bank of America increased their price objective on shares of Sociedad Quimica y Minera from $36.50 to $43.50 and gave the company an “underperform” rating in a report on Tuesday, August 26th. Weiss Ratings raised shares of Sociedad Quimica y Minera from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, November 13th. Jefferies Financial Group reiterated a “hold” rating and issued a $50.00 price target (down previously from $53.00) on shares of Sociedad Quimica y Minera in a research note on Monday, October 6th. BMO Capital Markets raised their price objective on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Finally, Rothschild Redb raised Sociedad Quimica y Minera to a “hold” rating in a report on Friday, October 24th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.