Sociedad Química y Minera de Chile (NYSE:SQM) Releases Earnings Results, Misses Estimates By $0.24 EPS

Sociedad Química y Minera de Chile (NYSE:SQM) released its earnings results on Wednesday. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.24), Briefing.com reports. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. Sociedad Química y Minera de Chile had a net margin of 6.25% and a return on equity of 30.74%. During the same period in the prior year, the company earned $2.03 earnings per share.

Sociedad Química y Minera de Chile Trading Down 2.4 %

Shares of SQM stock opened at $37.51 on Friday. The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 11.53 and a beta of 1.05. The company’s fifty day simple moving average is $39.20 and its two-hundred day simple moving average is $43.98. Sociedad Química y Minera de Chile has a 1 year low of $32.24 and a 1 year high of $66.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.34 and a quick ratio of 1.61.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. BMO Capital Markets reduced their price objective on Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Bank of America decreased their price objective on shares of Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating for the company in a report on Wednesday. Berenberg Bank began coverage on shares of Sociedad Química y Minera de Chile in a research note on Wednesday, July 31st. They issued a “hold” rating and a $35.00 target price on the stock. Finally, The Goldman Sachs Group upgraded shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $56.43.

About Sociedad Química y Minera de Chile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine derivatives, lithium derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty blends, and other specialty fertilizers.