Albemarle Co. (ALB) Expected to Post Quarterly Sales of $794.58 Million

Equities analysts predict that Albemarle Co. (NYSE:ALB) will report $794.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Albemarle’s earnings. The highest sales estimate is $811.00 million and the lowest is $777.00 million. Albemarle reported sales of $696.66 million during the same quarter last year, which would suggest a positive year over year growth rate of 14.1%. The business is scheduled to report its next quarterly earnings report on Monday, February 26th.

On average, analysts expect that Albemarle will report full year sales of $794.58 million for the current fiscal year, with estimates ranging from $2.99 billion to $3.03 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.29 billion per share, with estimates ranging from $3.25 billion to $3.35 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Albemarle.

Albemarle (NYSE:ALB) last posted its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Albemarle had a net margin of 30.07% and a return on equity of 11.61%. The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $732.19 million. During the same period in the previous year, the business posted $0.91 EPS. The company’s quarterly revenue was up 15.4% on a year-over-year basis.

A number of research analysts have issued reports on the stock. UBS Group boosted their target price on shares of Albemarle from $123.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, November 9th. Jefferies Group reissued a “buy” rating on shares of Albemarle in a research note on Tuesday, October 24th. BMO Capital Markets assumed coverage on shares of Albemarle in a research note on Tuesday, October 24th. They set an “outperform” rating and a $160.00 target price for the company. Royal Bank of Canada reissued a “buy” rating and set a $136.00 target price on shares of Albemarle in a research note on Wednesday, September 20th. Finally, Zacks Investment Research lowered shares of Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $128.45.

Albemarle (NYSE ALB) opened at $131.72 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.11 and a quick ratio of 1.56. The company has a market cap of $14,388.74, a PE ratio of 17.04, a PEG ratio of 1.71 and a beta of 1.69. Albemarle has a fifty-two week low of $89.09 and a fifty-two week high of $144.99.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Thursday, December 14th. Albemarle’s dividend payout ratio is currently 16.56%.

Large investors have recently modified their holdings of the company. Thompson Davis & CO. Inc. lifted its stake in shares of Albemarle by 650.0% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 750 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 650 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Albemarle by 2.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 20 shares during the period. Highlander Capital Management LLC acquired a new stake in shares of Albemarle in the 2nd quarter worth approximately $106,000. Howe & Rusling Inc. lifted its stake in shares of Albemarle by 2,038.0% in the 3rd quarter. Howe & Rusling Inc. now owns 1,069 shares of the specialty chemicals company’s stock worth $146,000 after acquiring an additional 1,019 shares during the period. Finally, Advisory Services Network LLC lifted its stake in shares of Albemarle by 43.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock worth $134,000 after acquiring an additional 387 shares during the period. 87.99% of the stock is owned by institutional investors.

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About Albemarle

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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Earnings History and Estimates for Albemarle (NYSE:ALB)

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