Sociedad Quimica y Minera S.A. (NYSE:SQM) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Analysts have assigned a consensus rating of "Hold" for Sociedad Quimica y Minera S.A. (NYSE: SQM), with one sell recommendation, three holds, and three buys among the seven ratings firms covering the stock.
• The company's recent quarterly earnings report showed an earnings per share (EPS) of $0.31, missing analysts' estimates of $0.52, while revenue declined by 19.4% year-over-year.
• Shares of SQM experienced an increase of 3.7% recently, with its stock trading at approximately $45.91 and a 1-year price range of $29.36 to $47.51.

Sociedad Quimica y Minera S.A. (NYSE:SQM - Get Free Report) has been given an average recommendation of "Hold" by the seven brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $45.0833.

Several analysts have issued reports on the stock. Scotiabank cut 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 research note on Friday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Itau BBA Securities began coverage on shares of Sociedad Quimica y Minera in a research note on Thursday, September 4th. They issued an "outperform" rating and a $55.00 price target on the stock. Zacks Research raised shares of Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, Bank of America upped their price target on shares of Sociedad Quimica y Minera from $36.50 to $43.50 and gave the stock an "underperform" rating in a research note on Tuesday, August 26th.

Sociedad Quimica y Minera Stock Up 1.7%

NYSE:SQM traded up $0.70 during trading hours on Friday, hitting $42.55. 1,820,965 shares of the stock traded hands, compared to its average volume of 1,228,419. The firm has a 50 day moving average price of $41.50 and a 200 day moving average price of $38.03. 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 fifty-two week low of $29.36 and a fifty-two week high of $47.51. The firm has a market cap of $12.15 billion, a price-to-earnings ratio of 25.48 and a beta of 1.07.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last announced its earnings results on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.21). Sociedad Quimica y Minera had a net margin of 11.29% and a return on equity of 9.09%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the firm earned $0.75 earnings per share. Sociedad Quimica y Minera's revenue for the quarter was down 19.4% compared to the same quarter last year. Equities research analysts anticipate that Sociedad Quimica y Minera will post -1.31 earnings per share for the current year.

Hedge Funds Weigh In On Sociedad Quimica y Minera

A number of hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. increased its stake in shares of Sociedad Quimica y Minera by 2.9% in the second quarter. Osaic Holdings Inc. now owns 45,602 shares of the basic materials company's stock worth $1,608,000 after acquiring an additional 1,294 shares during the last quarter. Marex Group plc acquired a new position in shares of Sociedad Quimica y Minera in the second quarter worth $410,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Sociedad Quimica y Minera by 26.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 74,469 shares of the basic materials company's stock worth $2,625,000 after acquiring an additional 15,447 shares during the last quarter. Man Group plc increased its stake in shares of Sociedad Quimica y Minera by 41.9% in the second quarter. Man Group plc now owns 8,800 shares of the basic materials company's stock worth $310,000 after acquiring an additional 2,600 shares during the last quarter. Finally, LMR Partners LLP bought a new stake in Sociedad Quimica y Minera in the second quarter worth $1,622,000. 12.41% of the stock is owned by institutional investors and hedge funds.

Sociedad Quimica y Minera Company Profile

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.