Albemarle Corporation (ALB) Expected to Post Earnings of $1.07 Per Share
Equities research analysts expect Albemarle Corporation (NYSE:ALB) to report earnings of $1.07 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Albemarle Corporation’s earnings, with estimates ranging from $1.05 to $1.13. Albemarle Corporation reported earnings per share of $0.91 during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.6%. The company is scheduled to report its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Albemarle Corporation will report full year earnings of $4.36 per share for the current year, with EPS estimates ranging from $4.32 to $4.40. For the next year, analysts anticipate that the business will post earnings of $5.02 per share, with EPS estimates ranging from $4.74 to $5.20. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Albemarle Corporation.
Albemarle Corporation (NYSE:ALB) last released its quarterly earnings data on Monday, August 7th. The specialty chemicals company reported $1.13 EPS for the quarter, beating the 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 company had revenue of $737.25 million for the quarter, compared to analysts’ expectations of $735.50 million. During the same period last year, the firm posted $0.93 earnings per share. Albemarle Corporation’s revenue was up 10.1% compared to the same quarter last year.
A number of analysts have recently weighed in on ALB shares. Jefferies Group LLC raised their price objective on Albemarle Corporation from $144.00 to $156.00 and gave the stock a “buy” rating in a research report on Thursday, September 21st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $136.00 target price on shares of Albemarle Corporation in a research report on Wednesday, September 20th. Robert W. Baird lowered Albemarle Corporation from an “outperform” rating to a “neutral” rating and upped their target price for the company from $134.29 to $135.00 in a research report on Monday, September 25th. They noted that the move was a valuation call. Loop Capital began coverage on Albemarle Corporation in a research note on Thursday, September 28th. They issued a “buy” rating and a $150.00 price target for the company. Finally, Instinet increased their price target on Albemarle Corporation from $134.00 to $146.00 and gave the company a “buy” rating in a research note on Monday, September 18th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $115.11.
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In related news, EVP Karen G. Narwold sold 11,500 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the completion of the transaction, the executive vice president now directly owns 36,620 shares in the company, valued at $4,246,089. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Luther C. Iv Kissam sold 50,000 shares of the company’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $110.08, for a total transaction of $5,504,000.00. Following the completion of the sale, the chairman now directly owns 252,917 shares in the company, valued at $27,841,103.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,897 shares of company stock valued at $10,215,486. 0.74% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in ALB. Carroll Financial Associates Inc. raised its stake in shares of Albemarle Corporation by 0.3% during the 2nd quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock valued at $103,000 after buying an additional 3 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Albemarle Corporation by 0.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,458 shares of the specialty chemicals company’s stock valued at $154,000 after buying an additional 4 shares during the period. Scotia Capital Inc. lifted its holdings in shares of Albemarle Corporation by 0.5% in the 2nd quarter. Scotia Capital Inc. now owns 2,022 shares of the specialty chemicals company’s stock valued at $213,000 after buying an additional 10 shares during the period. Alps Advisors Inc. lifted its holdings in shares of Albemarle Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 4,606 shares of the specialty chemicals company’s stock valued at $486,000 after buying an additional 12 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Albemarle Corporation by 2.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock valued at $102,000 after buying an additional 20 shares during the period. 83.77% of the stock is currently owned by institutional investors.
Albemarle Corporation (NYSE:ALB) opened at 137.42 on Wednesday. The stock has a market cap of $15.18 billion, a price-to-earnings ratio of 17.58 and a beta of 1.66. Albemarle Corporation has a 12 month low of $76.32 and a 12 month high of $137.83. The firm has a 50-day moving average price of $122.99 and a 200-day moving average price of $113.52.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, September 14th. Albemarle Corporation’s dividend payout ratio (DPR) is currently 16.41%.
About Albemarle Corporation
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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