Albemarle Corporation (ALB) Expected to Post Earnings of $1.07 Per Share
Wall Street analysts expect Albemarle Corporation (NYSE:ALB) to report $1.07 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Albemarle Corporation’s earnings, with the lowest EPS estimate coming in at $1.05 and the highest estimate coming in at $1.13. Albemarle Corporation reported earnings of $0.91 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.6%. The firm is scheduled to announce its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Albemarle Corporation will report full year earnings of $4.36 per share for the current financial year, with EPS estimates ranging from $4.30 to $4.40. For the next financial year, analysts anticipate that the company will post earnings of $5.00 per share, with EPS estimates ranging from $4.74 to $5.20. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Albemarle Corporation.
Albemarle Corporation (NYSE:ALB) last announced its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.02. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The firm had revenue of $737.25 million during the quarter, compared to the consensus estimate of $735.50 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis.
Several equities research analysts have recently issued reports on the company. KeyCorp reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Albemarle Corporation in a research note on Sunday, September 3rd. Jefferies Group LLC set a $144.00 price target on Albemarle Corporation and gave the stock a “buy” rating in a research note on Monday, August 21st. CIBC assumed coverage on Albemarle Corporation in a research note on Thursday, August 17th. They set an “outperform” rating and a $133.00 price target for the company. Oppenheimer Holdings, Inc. assumed coverage on Albemarle Corporation in a research note on Wednesday, August 16th. They set an “outperform” rating and a $133.00 price target for the company. Finally, BidaskClub lowered Albemarle Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Albemarle Corporation presently has an average rating of “Buy” and an average price target of $110.94.
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Shares of Albemarle Corporation (NYSE ALB) traded up 0.33% during mid-day trading on Friday, reaching $126.41. The company’s stock had a trading volume of 293,144 shares. The company has a market cap of $13.96 billion, a PE ratio of 16.17 and a beta of 1.61. The company has a 50-day moving average price of $116.66 and a 200 day moving average price of $110.57. Albemarle Corporation has a 52-week low of $75.78 and a 52-week high of $126.59.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 annualized dividend and a yield of 1.02%. Albemarle Corporation’s payout ratio is currently 16.41%.
In other Albemarle Corporation news, Director Douglas L. Maine sold 10,000 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $107.94, for a total transaction of $1,079,400.00. Following the transaction, the director now directly owns 24,150 shares in the company, valued at approximately $2,606,751. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Karen G. Narwold sold 20,000 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $108.16, for a total value of $2,163,200.00. Following the transaction, the executive vice president now owns 45,120 shares in the company, valued at $4,880,179.20. The disclosure for this sale can be found here. Insiders have sold a total of 121,897 shares of company stock worth $13,458,086 over the last 90 days. 0.74% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC increased its holdings in Albemarle Corporation by 6.4% during the 2nd quarter. Perigon Wealth Management LLC now owns 7,046 shares of the specialty chemicals company’s stock worth $746,000 after purchasing an additional 426 shares during the period. W. E. Donoghue & Co. LLC purchased a new position in Albemarle Corporation during the 2nd quarter worth $2,173,000. Lord Abbett & CO. LLC purchased a new position in Albemarle Corporation during the 2nd quarter worth $11,681,000. USA Financial Portformulas Corp increased its holdings in Albemarle Corporation by 9.6% during the 2nd quarter. USA Financial Portformulas Corp now owns 30,985 shares of the specialty chemicals company’s stock worth $3,270,000 after purchasing an additional 2,725 shares during the period. Finally, Toronto Dominion Bank increased its holdings in Albemarle Corporation by 23.6% during the 2nd quarter. Toronto Dominion Bank now owns 37,565 shares of the specialty chemicals company’s stock worth $3,964,000 after purchasing an additional 7,165 shares during the period. Institutional investors own 84.01% of the company’s stock.
Albemarle Corporation Company Profile
Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.
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