Albemarle Co. (NYSE:ALB) Expected to Post Earnings of $0.73 Per Share

Equities analysts predict that Albemarle Co. (NYSE:ALB) will report $0.73 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Albemarle’s earnings, with the lowest EPS estimate coming in at $0.68 and the highest estimate coming in at $0.81. Albemarle posted earnings of $1.09 per share during the same quarter last year, which suggests a negative year over year growth rate of 33%. The firm is scheduled to report its next earnings report on Wednesday, November 3rd.

On average, analysts expect that Albemarle will report full year earnings of $3.56 per share for the current financial year, with EPS estimates ranging from $3.38 to $3.80. For the next financial year, analysts forecast that the company will post earnings of $5.06 per share, with EPS estimates ranging from $4.46 to $6.29. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Albemarle.

Albemarle (NYSE:ALB) last issued its quarterly earnings results on Tuesday, August 3rd. The specialty chemicals company reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.06. Albemarle had a net margin of 21.78% and a return on equity of 8.92%. The business had revenue of $773.90 million for the quarter, compared to analyst estimates of $787.72 million. During the same quarter in the prior year, the business posted $0.86 EPS. Albemarle’s revenue for the quarter was up 1.3% compared to the same quarter last year.

A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Albemarle from a “hold” rating to a “buy” rating and set a $197.00 price objective for the company in a research report on Tuesday, July 13th. Wells Fargo & Company raised their price objective on shares of Albemarle from $225.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Albemarle from $245.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday. Cowen increased their target price on shares of Albemarle from $180.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday, August 30th. Finally, BMO Capital Markets increased their target price on shares of Albemarle from $265.00 to $290.00 and gave the stock an “outperform” rating in a research note on Monday. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $199.95.

Shares of ALB stock traded up $3.74 during trading hours on Friday, hitting $234.21. The company’s stock had a trading volume of 11,334 shares, compared to its average volume of 1,401,308. The company has a 50 day moving average of $214.39 and a 200 day moving average of $178.41. Albemarle has a 12-month low of $79.06 and a 12-month high of $253.10. The stock has a market cap of $27.39 billion, a PE ratio of 37.35, a price-to-earnings-growth ratio of 4.50 and a beta of 1.57. The company has a current ratio of 2.18, a quick ratio of 1.44 and a debt-to-equity ratio of 0.32.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 17th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Thursday, September 16th. Albemarle’s payout ratio is 37.86%.

In related news, EVP Karen G. Narwold sold 1,338 shares of the firm’s stock in a transaction that occurred on Thursday, July 8th. The shares were sold at an average price of $165.69, for a total value of $221,693.22. Following the sale, the executive vice president now owns 41,019 shares of the company’s stock, valued at $6,796,438.11. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Raphael Goszcz Crawford sold 9,521 shares of the firm’s stock in a transaction that occurred on Tuesday, August 10th. The shares were sold at an average price of $240.41, for a total transaction of $2,288,943.61. Following the completion of the sale, the insider now directly owns 22,340 shares in the company, valued at approximately $5,370,759.40. The disclosure for this sale can be found here. In the last three months, insiders sold 23,534 shares of company stock valued at $5,298,393. Insiders own 0.63% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in ALB. Amundi Pioneer Asset Management Inc. raised its holdings in Albemarle by 0.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 176,692 shares of the specialty chemicals company’s stock worth $14,484,000 after purchasing an additional 460 shares in the last quarter. AE Wealth Management LLC acquired a new stake in Albemarle during the first quarter worth approximately $239,000. Meeder Asset Management Inc. raised its holdings in Albemarle by 1,204.2% during the first quarter. Meeder Asset Management Inc. now owns 313 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 289 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Albemarle by 5.1% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 18,856 shares of the specialty chemicals company’s stock worth $2,755,000 after purchasing an additional 915 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Albemarle by 1.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 385,535 shares of the specialty chemicals company’s stock valued at $56,331,000 after acquiring an additional 5,358 shares during the period. 81.13% of the stock is currently owned by institutional investors.

About Albemarle

Albemarle Corp. engages in developing, manufacturing, and marketing of chemicals for consumer electronics, petroleum refining, utilities, packaging, construction, transportation, pharmaceuticals, crop production, food-safety, and custom chemistry services. It operates through the following segments: Lithium, Bromine Specialties, and Catalysts.

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