Zacks: Analysts Expect Albemarle Co. (NYSE:ALB) Will Post Quarterly Sales of $884.18 Million

Equities analysts expect Albemarle Co. (NYSE:ALB) to report sales of $884.18 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Albemarle’s earnings, with estimates ranging from $800.08 million to $926.65 million. Albemarle posted sales of $879.15 million during the same quarter last year, which suggests a positive year over year growth rate of 0.6%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, February 16th.

On average, analysts expect that Albemarle will report full year sales of $3.33 billion for the current year, with estimates ranging from $3.23 billion to $3.36 billion. For the next year, analysts expect that the company will post sales of $3.86 billion, with estimates ranging from $3.69 billion to $4.02 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Albemarle.

Albemarle (NYSE:ALB) last released its quarterly earnings data on Wednesday, November 3rd. The specialty chemicals company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.28. The business had revenue of $830.57 million for the quarter, compared to analyst estimates of $775.61 million. Albemarle had a return on equity of 8.42% and a net margin of 6.40%. During the same period last year, the firm posted $1.09 earnings per share.

A number of brokerages have recently issued reports on ALB. Citigroup lowered their price objective on Albemarle from $323.00 to $280.00 in a research report on Tuesday. HSBC downgraded Albemarle from a “buy” rating to a “hold” rating in a research report on Friday, September 17th. TheStreet downgraded Albemarle from a “b” rating to a “c+” rating in a research report on Wednesday, November 3rd. Zacks Investment Research upgraded Albemarle from a “hold” rating to a “strong-buy” rating and set a $296.00 price objective for the company in a research report on Friday, December 10th. Finally, Evercore ISI restated a “buy” rating and set a $295.00 price objective on shares of Albemarle in a research report on Friday, November 19th. Four analysts have rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $243.75.

In other news, EVP Karen G. Narwold sold 2,308 shares of the company’s stock in a transaction dated Wednesday, January 5th. The stock was sold at an average price of $239.94, for a total value of $553,781.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Scott Tozier sold 36,330 shares of the stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $276.47, for a total value of $10,044,155.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,379 shares of company stock valued at $11,828,448. 0.63% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. Kozak & Associates Inc. bought a new position in Albemarle during the 3rd quarter valued at approximately $27,000. Knuff & Co LLC bought a new position in shares of Albemarle in the 2nd quarter worth approximately $25,000. Farmers & Merchants Investments Inc. raised its position in shares of Albemarle by 43.3% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 172 shares of the specialty chemicals company’s stock worth $40,000 after acquiring an additional 52 shares in the last quarter. Tradition Wealth Management LLC bought a new position in shares of Albemarle in the 2nd quarter worth approximately $34,000. Finally, Strategic Blueprint LLC bought a new position in shares of Albemarle in the 2nd quarter worth approximately $34,000. Institutional investors own 79.67% of the company’s stock.

NYSE:ALB traded down $1.56 during trading hours on Friday, hitting $233.67. The company’s stock had a trading volume of 556,075 shares, compared to its average volume of 954,402. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.31 and a quick ratio of 0.84. The company has a market capitalization of $27.33 billion, a P/E ratio of 123.64, a PEG ratio of 1.81 and a beta of 1.53. Albemarle has a twelve month low of $133.82 and a twelve month high of $291.48. The stock has a fifty day simple moving average of $251.36 and a 200-day simple moving average of $229.98.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Investors of record on Friday, December 17th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Thursday, December 16th. Albemarle’s payout ratio is 82.54%.

Albemarle Company Profile

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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Earnings History and Estimates for Albemarle (NYSE:ALB)

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