Morgan Stanley Reiterates Underweight Rating for Sociedad Quimica y Minera de Chile (SQM)

Morgan Stanley reiterated their underweight rating on shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) in a research report sent to investors on Friday, The Fly reports. The brokerage currently has a $35.00 target price on the basic materials company’s stock, down from their previous target price of $44.00.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Sociedad Quimica y Minera de Chile from a hold rating to a buy rating and set a $48.00 target price on the stock in a report on Saturday, January 19th. TheStreet lowered Sociedad Quimica y Minera de Chile from a b- rating to a c rating in a report on Tuesday, March 19th. Santander lowered Sociedad Quimica y Minera de Chile from a buy rating to a hold rating in a report on Wednesday, April 3rd. Deutsche Bank lowered Sociedad Quimica y Minera de Chile from a buy rating to a hold rating in a report on Monday, February 25th. Finally, Bank of America lowered Sociedad Quimica y Minera de Chile from a buy rating to a neutral rating in a report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $45.43.

NYSE:SQM opened at $37.27 on Friday. The firm has a market capitalization of $9.98 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 1.54 and a beta of 1.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.67 and a current ratio of 4.32. Sociedad Quimica y Minera de Chile has a 12 month low of $36.57 and a 12 month high of $58.69.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last posted its earnings results on Thursday, February 28th. The basic materials company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.03). The business had revenue of $565.20 million during the quarter, compared to analysts’ expectations of $560.66 million. Sociedad Quimica y Minera de Chile had a net margin of 19.41% and a return on equity of 20.29%. Analysts predict that Sociedad Quimica y Minera de Chile will post 1.62 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. purchased a new position in shares of Sociedad Quimica y Minera de Chile during the 4th quarter worth approximately $38,000. Federated Investors Inc. PA purchased a new position in shares of Sociedad Quimica y Minera de Chile during the 3rd quarter worth approximately $70,000. Virtus ETF Advisers LLC increased its stake in shares of Sociedad Quimica y Minera de Chile by 145.2% during the 4th quarter. Virtus ETF Advisers LLC now owns 1,736 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 1,028 shares in the last quarter. Lavaca Capital LLC purchased a new position in shares of Sociedad Quimica y Minera de Chile during the 4th quarter worth approximately $76,000. Finally, Financial Gravity Companies Inc. purchased a new position in shares of Sociedad Quimica y Minera de Chile during the 4th quarter worth approximately $112,000. 11.09% of the stock is currently owned by institutional investors.

About Sociedad Quimica y Minera de Chile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, industrial chemicals, potassium, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty mixes, and other specialty fertilizers for crops, such as vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.

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Analyst Recommendations for Sociedad Quimica y Minera de Chile (NYSE:SQM)

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