Albany Molecular Research, Inc. (AMRI) Expected to Announce Quarterly Sales of $171.94 Million
Wall Street analysts expect that Albany Molecular Research, Inc. (NASDAQ:AMRI) will post sales of $171.94 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Albany Molecular Research’s earnings, with estimates ranging from $168.21 million to $175.66 million. Albany Molecular Research reported sales of $120.81 million in the same quarter last year, which indicates a positive year over year growth rate of 42.3%. The business is expected to report its next earnings results on Thursday, August 3rd.
On average, 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 financial year, analysts anticipate that the business will report sales of $777.43 million per share, with estimates ranging from $771.60 million to $781.64 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Albany Molecular Research.
Albany Molecular Research (NASDAQ:AMRI) last issued its earnings results on Tuesday, May 9th. The biotechnology company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $163.80 million for the quarter, compared to analyst estimates 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 business’s quarterly revenue was up 55.1% on a year-over-year basis. During the same period last year, the company posted $0.07 EPS.
Several equities analysts have commented on AMRI shares. Morgan Stanley lowered shares of Albany Molecular Research from an “overweight” rating to an “equal weight” rating and set a $18.00 target price on the stock. in a report on Thursday, May 11th. They noted that the move was a valuation call. First Analysis lowered shares of Albany Molecular Research from an “overweight” rating to an “equal weight” rating in a report on Monday, June 12th. William Blair lowered shares of Albany Molecular Research from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 6th. J P Morgan Chase & Co lowered shares of Albany Molecular Research from an “overweight” rating to a “neutral” rating in a report on Thursday, June 8th. Finally, BidaskClub lowered shares of Albany Molecular Research from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Albany Molecular Research currently has a consensus rating of “Hold” and a consensus price target of $18.00.
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Large investors have recently made changes to their positions in the stock. Chicago Capital Management LLC bought a new stake in shares of Albany Molecular Research during the second quarter valued at about $21,417,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Albany Molecular Research during the second quarter valued at about $5,967,000. Royce & Associates LP raised its stake in shares of Albany Molecular Research by 17.6% in the first quarter. Royce & Associates LP now owns 1,518,276 shares of the biotechnology company’s stock valued at $21,301,000 after buying an additional 227,365 shares during the period. Stoneridge Investment Partners LLC bought a new stake in shares of Albany Molecular Research during the first quarter valued at about $1,657,000. Finally, Morgan Stanley raised its stake in shares of Albany Molecular Research by 18.7% in the first quarter. Morgan Stanley now owns 731,638 shares of the biotechnology company’s stock valued at $10,264,000 after buying an additional 115,040 shares during the period. 76.19% of the stock is currently owned by institutional investors.
Shares of Albany Molecular Research (NASDAQ AMRI) traded down 0.05% on Thursday, hitting $21.72. The company had a trading volume of 368,574 shares. The company’s market cap is $903.64 million. Albany Molecular Research has a 12-month low of $13.01 and a 12-month high of $22.17. The company has a 50 day moving average of $21.68 and a 200-day moving average of $17.76.
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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