Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Forecasted to Post Q2 2023 Earnings of $2.67 Per Share

Sociedad Química y Minera de Chile S.A. (NYSE:SQM – Get Rating) – Investment analysts at Scotiabank issued their Q2 2023 earnings estimates for Sociedad Química y Minera de Chile in a research report issued on Tuesday, May 23rd. Scotiabank analyst B. Isaacson expects that the basic materials company will earn $2.67 per share for the quarter. Scotiabank currently has a “Sector Perform” rating and a $86.00 target price on the stock. The consensus estimate for Sociedad Química y Minera de Chile’s current full-year earnings is $12.45 per share.

A number of other research analysts also recently weighed in on SQM. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sociedad Química y Minera de Chile from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, April 20th. JPMorgan Chase & Co. lowered their price objective on shares of Sociedad Química y Minera de Chile from $134.00 to $97.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 19th. Bank of America upgraded shares of Sociedad Química y Minera de Chile from an “underperform” rating to a “neutral” rating and lowered their price objective for the company from $90.00 to $85.00 in a research report on Monday, April 10th. The Goldman Sachs Group assumed coverage on shares of Sociedad Química y Minera de Chile in a research report on Friday, May 19th. They set a “sell” rating and a $60.00 price objective on the stock. Finally, StockNews.com assumed coverage on shares of Sociedad Química y Minera de Chile in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Sociedad Química y Minera de Chile presently has a consensus rating of “Hold” and an average target price of $88.25.

Sociedad Química y Minera de Chile Stock Down 4.3 %

Shares of Sociedad Química y Minera de Chile stock opened at $66.09 on Thursday. The company has a market cap of $18.88 billion, a price-to-earnings ratio of 4.89, a price-to-earnings-growth ratio of 0.39 and a beta of 0.95. The company’s 50 day moving average is $73.68 and its 200 day moving average is $84.00. Sociedad Química y Minera de Chile has a twelve month low of $60.21 and a twelve month high of $115.76. The company has a quick ratio of 1.81, a current ratio of 2.48 and a debt-to-equity ratio of 0.44.

Sociedad Química y Minera de Chile (NYSE:SQM – Get Rating) last posted its quarterly earnings results on Thursday, March 2nd. The basic materials company reported $4.03 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.23. The firm had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.17 billion. Sociedad Química y Minera de Chile had a net margin of 35.24% and a return on equity of 82.96%.

Institutional Trading of Sociedad Química y Minera de Chile

Several institutional investors and hedge funds have recently modified their holdings of SQM. Concord Wealth Partners bought a new stake in shares of Sociedad Química y Minera de Chile during the 4th quarter valued at $25,000. Fortis Capital Advisors LLC bought a new stake in shares of Sociedad Química y Minera de Chile during the 4th quarter valued at $26,000. Huntington National Bank bought a new stake in shares of Sociedad Química y Minera de Chile during the 3rd quarter valued at $27,000. Gradient Investments LLC bought a new stake in shares of Sociedad Química y Minera de Chile during the 1st quarter valued at $31,000. Finally, Ameliora Wealth Management Ltd. purchased a new position in Sociedad Química y Minera de Chile during the fourth quarter valued at $32,000. 18.42% of the stock is currently owned by institutional investors.

Sociedad Química y Minera de Chile Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 11th. Stockholders of record on Friday, May 12th were given a dividend of $3.2237 per share. This represents a $12.89 annualized dividend and a dividend yield of 19.51%. This is an increase from Sociedad Química y Minera de Chile’s previous quarterly dividend of $1.20. The ex-dividend date was Thursday, May 11th. Sociedad Química y Minera de Chile’s dividend payout ratio (DPR) is presently 61.98%.

Sociedad Química y Minera de Chile Company Profile

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Sociedad Quimica y Minera de Chile SA engages in the production and distribution of fertilizers, potassium nitrate, iodine, and lithium chemicals. It operates through the following segments: Specialty Plant Nutrients, Iodine and Derivatives, Lithium and Derivatives, Industrial Chemicals, Potassium, and Other Products and Services.