Analysts Anticipate Albany Molecular Research, Inc. (AMRI) Will Post Quarterly Sales of $171.94 Million
Wall Street analysts expect Albany Molecular Research, Inc. (NASDAQ:AMRI) to report $171.94 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Albany Molecular Research’s earnings. The lowest sales estimate is $168.21 million and the highest is $175.66 million. Albany Molecular Research posted sales of $120.81 million in the same quarter last year, which would indicate a positive year over year growth rate of 42.3%. The firm is expected to report its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Albany Molecular Research will report full year sales of $171.94 million for the current year, with estimates ranging from $720.10 million to $726.44 million. For the next year, analysts forecast that the firm will report sales of $777.43 million per share, with estimates ranging from $771.60 million to $781.64 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Albany Molecular Research.
Albany Molecular Research (NASDAQ:AMRI) last posted its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. The business had revenue of $163.80 million during the quarter, compared to the consensus estimate of $161.43 million. Albany Molecular Research had a positive return on equity of 11.97% and a negative net margin of 11.26%. The company’s revenue for the quarter was up 55.1% compared to the same quarter last year. During the same period last year, the firm earned $0.07 earnings per share.
Several research analysts have recently issued reports on AMRI shares. William Blair restated an “outperform” rating on shares of Albany Molecular Research in a report on Tuesday, May 23rd. Morgan Stanley downgraded shares of Albany Molecular Research from an “overweight” rating to an “equal weight” rating and set a $18.00 price objective on the stock. in a report on Thursday, May 11th. They noted that the move was a valuation call. First Analysis downgraded shares of Albany Molecular Research from an “overweight” rating to an “equal weight” rating in a report on Monday, June 12th. Finally, J P Morgan Chase & Co downgraded shares of Albany Molecular Research from an “overweight” rating to a “neutral” rating in a report on Thursday, June 8th.
Albany Molecular Research (NASDAQ:AMRI) traded down 0.09% during trading on Friday, reaching $21.70. The company had a trading volume of 1,245,675 shares. Albany Molecular Research has a 12-month low of $13.01 and a 12-month high of $22.17. The firm has a 50-day moving average price of $20.05 and a 200 day moving average price of $17.34. The stock’s market cap is $902.81 million.
Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in Albany Molecular Research by 7.2% in the fourth quarter. State Street Corp now owns 512,819 shares of the biotechnology company’s stock valued at $9,623,000 after buying an additional 34,448 shares during the last quarter. Keybank National Association OH increased its position in Albany Molecular Research by 3.9% in the first quarter. Keybank National Association OH now owns 34,552 shares of the biotechnology company’s stock valued at $485,000 after buying an additional 1,289 shares during the last quarter. Renaissance Technologies LLC increased its position in Albany Molecular Research by 3.1% in the fourth quarter. Renaissance Technologies LLC now owns 357,900 shares of the biotechnology company’s stock valued at $6,714,000 after buying an additional 10,658 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Albany Molecular Research during the fourth quarter valued at about $4,058,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Albany Molecular Research during the first quarter valued at about $861,000. Institutional investors own 75.55% of the company’s stock.
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About Albany Molecular Research
Albany Molecular Research, Inc is a contract research and manufacturing company. The Company operates through Discovery and Development Services (DDS), Active Pharmaceutical Ingredients (API), Drug Product (DP) and Fine Chemicals (FC) segments. The DDS segment includes activities, such as drug lead discovery, optimization, drug development and small scale commercial manufacturing.
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