FY2020 Earnings Estimate for Albemarle Corporation Issued By Oppenheimer Holdings (ALB)
Albemarle Corporation (NYSE:ALB) – Analysts at Oppenheimer Holdings boosted their FY2020 earnings per share estimates for shares of Albemarle Corporation in a research note issued on Monday. Oppenheimer Holdings analyst C. Rusch now anticipates that the specialty chemicals company will post earnings of $6.12 per share for the year, up from their prior estimate of $5.89. Oppenheimer Holdings currently has a “Outperform” rating and a $157.00 target price on the stock. Oppenheimer Holdings also issued estimates for Albemarle Corporation’s FY2021 earnings at $6.88 EPS.
Albemarle Corporation (NYSE:ALB) last issued its quarterly earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.02. The firm had revenue of $737.25 million during the quarter, compared to analysts’ expectations of $735.50 million. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. Albemarle Corporation’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 EPS.
ALB has been the subject of several other research reports. KeyCorp reissued a “buy” rating and set a $125.00 price target on shares of Albemarle Corporation in a report on Sunday, September 3rd. Zacks Investment Research downgraded shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Instinet boosted their price target on shares of Albemarle Corporation from $134.00 to $146.00 and gave the company a “buy” rating in a report on Monday, September 18th. Nomura boosted their price target on shares of Albemarle Corporation from $146.00 to $154.00 and gave the company a “buy” rating in a report on Tuesday, October 10th. Finally, Aegis reissued a “buy” rating on shares of Albemarle Corporation in a report on Friday, July 7th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $122.95.
Shares of Albemarle Corporation (NYSE ALB) traded down 0.67% during mid-day trading on Tuesday, reaching $139.22. 716,282 shares of the company were exchanged. The company’s 50-day moving average is $128.91 and its 200 day moving average is $115.43. Albemarle Corporation has a 12 month low of $76.32 and a 12 month high of $140.70. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 17.81 and a beta of 1.66.
A number of institutional investors have recently modified their holdings of ALB. Stifel Financial Corp raised its position in Albemarle Corporation by 4.7% in the first quarter. Stifel Financial Corp now owns 7,437 shares of the specialty chemicals company’s stock worth $793,000 after acquiring an additional 333 shares in the last quarter. AXA bought a new stake in Albemarle Corporation in the first quarter worth about $359,000. Thrivent Financial For Lutherans raised its position in Albemarle Corporation by 5.3% in the first quarter. Thrivent Financial For Lutherans now owns 4,150 shares of the specialty chemicals company’s stock worth $438,000 after acquiring an additional 210 shares in the last quarter. Global X Management Co. LLC raised its position in Albemarle Corporation by 23.8% in the first quarter. Global X Management Co. LLC now owns 78,843 shares of the specialty chemicals company’s stock worth $8,329,000 after acquiring an additional 15,142 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Albemarle Corporation in the first quarter worth about $3,142,000. Hedge funds and other institutional investors own 83.67% of the company’s stock.
In other Albemarle Corporation news, EVP Matthew Juneau sold 5,397 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $115.77, for a total value of $624,810.69. Following the sale, the executive vice president now directly owns 360 shares in the company, valued at $41,677.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Karen G. Narwold sold 11,500 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the completion of the sale, the executive vice president now owns 36,620 shares in the company, valued at $4,246,089. The disclosure for this sale can be found here. Corporate insiders own 0.74% 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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