Equities analysts predict that Albemarle Co. (NYSE:ALB) will announce $1.63 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Albemarle’s earnings, with estimates ranging from $1.43 to $1.78. Albemarle posted earnings of $1.31 per share in the same quarter last year, which suggests a positive year over year growth rate of 24.4%. The company is scheduled to issue its next quarterly earnings results on Wednesday, November 6th.
On average, analysts expect that Albemarle will report full year earnings of $6.37 per share for the current year, with EPS estimates ranging from $6.20 to $6.55. For the next financial year, analysts anticipate that the business will post earnings of $6.61 per share, with EPS estimates ranging from $4.96 to $7.14. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Albemarle.
Albemarle (NYSE:ALB) last released its earnings results on Wednesday, August 7th. The specialty chemicals company reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.41 by $0.14. The company had revenue of $885.05 million during the quarter, compared to the consensus estimate of $893.50 million. Albemarle had a net margin of 16.01% and a return on equity of 15.71%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 EPS.
Several equities research analysts have recently weighed in on ALB shares. Royal Bank of Canada dropped their target price on shares of Albemarle to $83.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Morgan Stanley dropped their target price on shares of Albemarle from $65.00 to $60.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. SunTrust Banks dropped their target price on shares of Albemarle from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Berenberg Bank set a $75.00 target price on shares of Albemarle and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, Vertical Group dropped their target price on shares of Albemarle from $58.50 to $39.50 in a research report on Wednesday, August 14th. Four analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Albemarle currently has a consensus rating of “Hold” and a consensus price target of $92.20.
In other news, insider Eric Norris bought 3,090 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was purchased at an average price of $64.66 per share, for a total transaction of $199,799.40. Following the transaction, the insider now owns 164 shares in the company, valued at $10,604.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.02% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Icon Wealth Partners LLC bought a new position in Albemarle in the 1st quarter worth about $25,000. Gemmer Asset Management LLC grew its position in Albemarle by 71.1% in the 2nd quarter. Gemmer Asset Management LLC now owns 361 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 150 shares during the last quarter. NEXT Financial Group Inc grew its position in Albemarle by 71.1% in the 2nd quarter. NEXT Financial Group Inc now owns 433 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 180 shares during the last quarter. Exane Derivatives bought a new position in Albemarle in the 2nd quarter worth about $32,000. Finally, Oakworth Capital Inc. bought a new position in Albemarle in the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.
Shares of ALB traded up $0.08 during midday trading on Monday, hitting $69.36. The company had a trading volume of 337,383 shares, compared to its average volume of 1,413,467. The company’s 50 day moving average price is $65.99 and its 200 day moving average price is $73.71. The stock has a market cap of $7.34 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 0.83 and a beta of 1.64. Albemarle has a 52 week low of $58.63 and a 52 week high of $108.74. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.3675 per share. This represents a $1.47 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, September 12th. Albemarle’s dividend payout ratio is presently 26.82%.
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
See Also: P/E Growth (PEG)
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