Sociedad Quimica y Minera (NYSE:SQM) Issues Earnings Results

Key Points

• Sociedad Quimica y Minera reported earnings of $0.31 per share, missing analysts' expectations of $0.52 EPS, and generated $1.04 billion in revenue against estimates of $1.08 billion.
• The company's shares were trading at $45.12, with a market capitalization of $12.89 billion and a debt-to-equity ratio of 0.71.
• Research analysts have mixed ratings on the stock, with a consensus target price of $42.50, and several adjustments to price objectives by different institutions.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) released its earnings results on Tuesday. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.21), Zacks reports. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.08 billion. Sociedad Quimica y Minera had a return on equity of 11.71% and a net margin of 13.45%.

Sociedad Quimica y Minera Price Performance

Shares of NYSE:SQM opened at $45.1190 on Wednesday. The company's fifty day moving average price is $37.89 and its 200 day moving average price is $37.33. Sociedad Quimica y Minera has a 12 month low of $29.36 and a 12 month high of $47.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.88 and a quick ratio of 1.96. The firm has a market capitalization of $12.89 billion, a P/E ratio of 21.38 and a beta of 1.03.

Institutional Investors Weigh In On Sociedad Quimica y Minera

Several hedge funds and other institutional investors have recently bought and sold shares of SQM. Raymond James Financial Inc. purchased a new stake in shares of Sociedad Quimica y Minera in the second quarter valued at about $146,000. Quantinno Capital Management LP grew its holdings in shares of Sociedad Quimica y Minera by 10.6% during the second quarter. Quantinno Capital Management LP now owns 7,801 shares of the basic materials company's stock worth $275,000 after buying an additional 749 shares during the last quarter. Man Group plc grew its holdings in shares of Sociedad Quimica y Minera by 41.9% during the second quarter. Man Group plc now owns 8,800 shares of the basic materials company's stock worth $310,000 after buying an additional 2,600 shares during the last quarter. Diversify Advisory Services LLC grew its holdings in shares of Sociedad Quimica y Minera by 51.2% during the second quarter. Diversify Advisory Services LLC now owns 10,407 shares of the basic materials company's stock worth $367,000 after buying an additional 3,522 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of 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 worth $737,000 after buying an additional 3,545 shares during the last quarter. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Scotiabank reduced their target price on shares of Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating on the stock in a report on Friday, May 30th. JPMorgan Chase & Co. raised their price objective on shares of Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, July 28th. BMO Capital Markets reduced their price objective on shares of Sociedad Quimica y Minera from $55.00 to $45.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Finally, Zacks Research upgraded shares of Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Sociedad Quimica y Minera has an average rating of "Hold" and a consensus target price of $42.50.

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.

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