Sociedad Química y Minera de Chile (NYSE:SQM) Announces Earnings Results, Misses Estimates By $0.15 EPS

Sociedad Química y Minera de Chile (NYSE:SQM - Get Free Report) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.15), Zacks reports. Sociedad Química y Minera de Chile had a negative net margin of 6.74% and a positive return on equity of 16.12%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same period last year, the firm posted ($3.04) EPS. Sociedad Química y Minera de Chile's revenue was down 4.4% on a year-over-year basis.

Sociedad Química y Minera de Chile Stock Down 3.3%

Shares of SQM traded down $1.03 during midday trading on Friday, reaching $30.43. 1,405,118 shares of the company were exchanged, compared to its average volume of 1,070,285. The stock has a 50-day moving average price of $35.33 and a 200-day moving average price of $37.93. The company has a market cap of $8.69 billion, a price-to-earnings ratio of -27.41, a P/E/G ratio of 5.00 and a beta of 1.11. Sociedad Química y Minera de Chile has a 1-year low of $29.84 and a 1-year high of $48.21. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BMO Capital Markets lowered their price target on Sociedad Química y Minera de Chile from $55.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday. Scotiabank lowered their price target on Sociedad Química y Minera de Chile from $50.00 to $45.00 and set a "sector outperform" rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Sociedad Química y Minera de Chile has an average rating of "Hold" and a consensus target price of $41.86.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sociedad Química y Minera de Chile stock. Royal Bank of Canada increased its holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 198,789 shares of the basic materials company's stock after acquiring an additional 31,066 shares during the quarter. Royal Bank of Canada owned approximately 0.07% of Sociedad Química y Minera de Chile worth $7,898,000 as of its most recent filing with the SEC. 12.41% of the stock is currently owned by institutional investors.

About Sociedad Química y Minera de Chile

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.