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

Sociedad Quimica y Minera (NYSE:SQM) announced its earnings results on Tuesday. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the prior year, the firm posted $0.46 earnings per share. Sociedad Quimica y Minera’s revenue was up 8.9% on a year-over-year basis.

Sociedad Quimica y Minera Stock Performance

NYSE SQM opened at $63.39 on Wednesday. The firm’s 50 day simple moving average is $45.79 and its 200 day simple moving average is $40.57. The firm has a market capitalization of $18.11 billion, a price-to-earnings ratio of 37.55 and a beta of 1.14. 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 1 year low of $29.36 and a 1 year high of $62.87.

Analysts Set New Price Targets

Several analysts have weighed in on SQM shares. Bank of America lifted their price objective 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. Itau BBA Securities initiated coverage on shares of Sociedad Quimica y Minera in a report on Thursday, September 4th. They set an “outperform” rating and a $55.00 target price on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $50.00 price target (down from $53.00) on shares of Sociedad Quimica y Minera in a research report on Monday, October 6th. BMO Capital Markets increased their price target on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Finally, Zacks Research upgraded Sociedad Quimica y Minera from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.81.

Institutional Investors Weigh In On Sociedad Quimica y Minera

A number of large investors have recently modified their holdings of SQM. Fulcrum Asset Management LLP bought a new position in shares of Sociedad Quimica y Minera in the 3rd quarter valued at $43,000. Triumph Capital Management acquired a new stake in shares of Sociedad Quimica y Minera in the 3rd quarter valued at approximately $49,000. Advisory Services Network LLC bought a new stake in shares of Sociedad Quimica y Minera during the 3rd quarter valued at approximately $62,000. Northwestern Mutual Wealth Management Co. increased its position in Sociedad Quimica y Minera by 26.9% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,905 shares of the basic materials company’s stock worth $125,000 after purchasing an additional 616 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Sociedad Quimica y Minera in the 2nd quarter valued at approximately $146,000. Institutional investors and hedge funds own 12.41% of the company’s stock.

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.