Arcadium Lithium (NYSE:ALTM) Announces Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Arcadium Lithium (NYSE:ALTM) announced its quarterly earnings results on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04), reports. The business had revenue of $203.10 million for the quarter, compared to the consensus estimate of $263.14 million.

Arcadium Lithium Stock Performance

Shares of Arcadium Lithium stock opened at $5.36 on Friday. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 7.88 and a beta of 1.48. The stock has a 50 day moving average price of $3.98 and a 200-day moving average price of $3.77. Arcadium Lithium has a one year low of $2.19 and a one year high of $18.77.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ALTM. UBS Group upgraded Arcadium Lithium to a “hold” rating in a research report on Tuesday, September 3rd. Scotiabank upgraded Arcadium Lithium from a “hold” rating to a “strong-buy” rating in a report on Monday, October 7th. Hsbc Global Res raised Arcadium Lithium to a “hold” rating in a report on Thursday, October 10th. TD Cowen downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. Finally, KeyCorp cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.00.

Arcadium Lithium Company Profile

Arcadium Lithium plc engages in the production of lithium chemicals products in the Asia Pacific, North America, Europe, the Middle East, Africa, and Latin America. It offers battery-grade lithium hydroxide, lithium carbonate, butyllithium and high purity lithium metal for electric vehicles, electronics, agricultural, industrial, greases, polymers, pharmaceutical, battery, and aerospace applications.