Albemarle Given Average Recommendation of “Hold” by Brokerages (NYSE:ALB)
Shares of Albemarle (NYSE:ALB) have received a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the company, ARN reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $73.40.
A number of analysts have recently weighed in on ALB shares. Analysts at Macquarie upgraded shares of Albemarle from a “neutral” rating to an “outperform” rating in a research note on Monday, August 11th. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Albemarle in a research note on Friday, August 1st. They now have a $61.00 price target on the stock, down previously from $70.00. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Albemarle in a research note on Friday, August 1st. They now have a $80.00 price target on the stock, down previously from $85.00.
Shares of Albemarle (NYSE:ALB) opened at 61.66 on Tuesday. Albemarle has a 52-week low of $59.86 and a 52-week high of $76.28. The stock has a 50-day moving average of $66.8 and a 200-day moving average of $66.94. The company has a market cap of $4.824 billion and a price-to-earnings ratio of 15.29.
Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.10 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.99 by $0.11. The company had revenue of $604.70 million for the quarter, compared to the consensus estimate of $646.75 million. During the same quarter in the prior year, the company posted $0.97 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts predict that Albemarle will post $4.17 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Monday, September 15th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, September 11th.
Albemarle Corporation (NYSE:ALB) is a developer, manufacturer and marketer of specialty chemicals, which meet customer needs across a range of end markets, including the petroleum refining, consumer electronics, plastics/packaging, construction, automotive, lubricants, pharmaceuticals, crop protection, food-safety and custom chemistry services markets.
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