Zacks: Analysts Expect Albemarle Corporation (ALB) to Announce $1.07 EPS
Equities research analysts expect Albemarle Corporation (NYSE:ALB) to announce earnings per share of $1.07 for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Albemarle Corporation’s earnings. The highest EPS estimate is $1.13 and the lowest is $1.05. Albemarle Corporation posted earnings of $0.91 per share in the same quarter last year, which indicates a positive year over year growth rate of 17.6%. The firm is scheduled to report its next earnings results after the market closes on Wednesday, November 8th.
On average, 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 report earnings of $5.02 per share, with EPS estimates ranging from $4.74 to $5.20. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Albemarle Corporation.
Albemarle Corporation (NYSE:ALB) last released its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.02. The firm had revenue of $737.25 million during the quarter, compared to analyst estimates of $735.50 million. Albemarle Corporation had a net margin of 31.49% and a return on equity of 11.59%. The business’s revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the business earned $0.93 EPS.
A number of research firms have commented on ALB. BidaskClub cut shares of Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Jefferies Group LLC set a $144.00 target price on shares of Albemarle Corporation and gave the company a “buy” rating in a research report on Monday, August 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 target price on shares of Albemarle Corporation in a research report on Thursday, June 29th. Vertical Research reaffirmed a “hold” rating and issued a $109.00 target price (up previously from $108.00) on shares of Albemarle Corporation in a research report on Thursday, August 10th. Finally, Aegis reaffirmed a “buy” rating on shares of Albemarle Corporation in a research report on Friday, July 7th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $123.63.
In other news, EVP Karen G. Narwold sold 11,500 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 36,620 shares of the company’s stock, valued at $4,246,089. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Matthew Juneau sold 5,397 shares of the stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $115.77, for a total transaction of $624,810.69. Following the sale, the executive vice president now directly owns 360 shares in the company, valued at approximately $41,677.20. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of ALB. Northwestern Mutual Wealth Management Co. increased its stake in shares of Albemarle Corporation by 2.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after buying an additional 20 shares during the period. Carroll Financial Associates Inc. increased its stake in shares of Albemarle Corporation by 0.3% during the second quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after buying an additional 3 shares during the period. Smithfield Trust Co. increased its stake in shares of Albemarle Corporation by 16.1% during the second quarter. Smithfield Trust Co. now owns 1,008 shares of the specialty chemicals company’s stock worth $106,000 after buying an additional 140 shares during the period. Highlander Capital Management LLC purchased a new stake in shares of Albemarle Corporation during the second quarter worth approximately $106,000. Finally, Advisory Services Network LLC increased its stake in shares of Albemarle Corporation by 43.7% during the second quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock worth $134,000 after buying an additional 387 shares during the period. 83.67% of the stock is currently owned by institutional investors and hedge funds.
Albemarle Corporation (ALB) traded up 0.92% during midday trading on Friday, hitting $140.78. 925,475 shares of the stock traded hands. Albemarle Corporation has a 52-week low of $76.32 and a 52-week high of $141.30. The stock has a 50-day moving average of $132.03 and a 200 day moving average of $116.52. The firm has a market cap of $15.55 billion, a PE ratio of 18.00 and a beta of 1.67.
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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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