Albemarle Given Consensus Rating of “Hold” by Brokerages (NYSE:ALB)
Shares of Albemarle (NYSE:ALB) have earned a consensus recommendation of “Hold” from the twelve analysts that are presently covering the stock, Analyst RN reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $73.40.
Several analysts have recently commented on the stock. 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 61.81 on Tuesday. Albemarle has a one year low of $59.86 and a one year high of $76.28. The stock has a 50-day moving average of $65.72 and a 200-day moving average of $66.87. The company has a market cap of $4.836 billion and a P/E ratio of 15.36.
Albemarle (NYSE:ALB) last posted its earnings data on Wednesday, July 30th. The company reported $1.10 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.97 earnings per share. Albemarle’s revenue was up 4.8% compared to the same quarter last year. 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. Stockholders 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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