Wall Street analysts expect Albemarle Co. (NYSE:ALB) to announce $886.82 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Albemarle’s earnings, with estimates ranging from $864.70 million to $909.76 million. Albemarle reported sales of $853.87 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.9%. The firm is expected to report its next quarterly earnings report on Tuesday, August 6th.
According to Zacks, analysts expect that Albemarle will report full year sales of $3.68 billion for the current financial year, with estimates ranging from $3.65 billion to $3.70 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.95 billion, with estimates ranging from $3.43 billion to $4.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Albemarle.
Albemarle (NYSE:ALB) last issued its quarterly earnings data on Wednesday, May 8th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.02. Albemarle had a return on equity of 15.53% and a net margin of 20.54%. The firm had revenue of $832.06 million during the quarter, compared to the consensus estimate of $827.94 million. During the same period in the previous year, the firm posted $1.30 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year.
Several research analysts recently issued reports on the company. restated a “buy” rating and set a $157.00 price objective on shares of Albemarle in a research report on Thursday, February 14th. KeyCorp cut their price objective on Albemarle from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Citigroup downgraded Albemarle from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $90.00 to $81.00 in a research report on Tuesday, February 5th. ValuEngine downgraded Albemarle from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Finally, TheStreet downgraded Albemarle from a “b-” rating to a “c+” rating in a report on Monday, May 20th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $98.98.
Shares of Albemarle stock traded up $0.46 during trading on Tuesday, hitting $66.80. 1,544,385 shares of the company were exchanged, compared to its average volume of 1,890,079. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.96. Albemarle has a fifty-two week low of $67.06 and a fifty-two week high of $108.74. The company has a market capitalization of $7.08 billion, a P/E ratio of 12.19, a P/E/G ratio of 0.71 and a beta of 1.56.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.3675 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.47 annualized dividend and a yield of 2.20%. Albemarle’s dividend payout ratio (DPR) is presently 26.82%.
In other news, EVP Karen G. Narwold sold 1,243 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $91.00, for a total transaction of $113,113.00. Following the completion of the sale, the executive vice president now directly owns 34,757 shares of the company’s stock, valued at approximately $3,162,887. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Scott Tozier sold 2,961 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $91.00, for a total transaction of $269,451.00. Following the sale, the chief financial officer now directly owns 49,672 shares of the company’s stock, valued at $4,520,152. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ALB. Benjamin F. Edwards & Company Inc. raised its stake in Albemarle by 7.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,998 shares of the specialty chemicals company’s stock worth $154,000 after acquiring an additional 143 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its holdings in shares of Albemarle by 3.2% during the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 4,729 shares of the specialty chemicals company’s stock valued at $388,000 after purchasing an additional 146 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Albemarle by 1.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,283 shares of the specialty chemicals company’s stock valued at $925,000 after purchasing an additional 160 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Albemarle by 3.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 5,798 shares of the specialty chemicals company’s stock valued at $605,000 after purchasing an additional 178 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Albemarle by 1.0% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,074 shares of the specialty chemicals company’s stock valued at $1,483,000 after purchasing an additional 184 shares in the last quarter. 88.58% of the stock is owned by institutional investors.
Albemarle Company Profile
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.
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