Albemarle Co. (NYSE:ALB) – Investment analysts at Seaport Global Securities decreased their FY2017 earnings per share (EPS) estimates for Albemarle in a report issued on Monday. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will earn $4.42 per share for the year, down from their prior forecast of $4.49. Seaport Global Securities has a “Hold” rating and a $130.00 price target on the stock. Seaport Global Securities also issued estimates for Albemarle’s Q4 2017 earnings at $1.16 EPS, Q1 2018 earnings at $1.18 EPS, Q2 2018 earnings at $1.24 EPS, Q3 2018 earnings at $1.34 EPS, Q4 2018 earnings at $1.27 EPS and FY2018 earnings at $5.03 EPS.
ALB has been the topic of a number of other reports. Robert W. Baird reiterated a “hold” rating and set a $135.00 price target on shares of Albemarle in a research report on Wednesday, November 1st. UBS Group raised Albemarle from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $113.00 to $150.00 in a report on Tuesday, January 30th. Jefferies Group increased their price target on Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, November 14th. Nomura increased their price target on Albemarle from $146.00 to $154.00 and gave the company a “buy” rating in a research note on Tuesday, October 10th. Finally, Oppenheimer reaffirmed a “buy” rating on shares of Albemarle in a research note on Wednesday, January 17th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $127.88.
Albemarle (NYSE:ALB) last released its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.01. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The business had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $732.19 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company’s revenue was up 15.4% compared to the same quarter last year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parkside Investments LLC boosted its stake in shares of Albemarle by 38.9% during the 4th quarter. Parkside Investments LLC now owns 2,500 shares of the specialty chemicals company’s stock worth $320,000 after acquiring an additional 700 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Albemarle by 3.0% during the 4th quarter. California Public Employees Retirement System now owns 251,570 shares of the specialty chemicals company’s stock worth $32,173,000 after acquiring an additional 7,422 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Albemarle by 1.4% during the 4th quarter. M&T Bank Corp now owns 54,981 shares of the specialty chemicals company’s stock worth $7,032,000 after acquiring an additional 755 shares in the last quarter. ING Groep NV bought a new stake in shares of Albemarle during the 4th quarter worth $487,000. Finally, QCI Asset Management Inc. NY boosted its stake in shares of Albemarle by 6.8% during the 4th quarter. QCI Asset Management Inc. NY now owns 68,813 shares of the specialty chemicals company’s stock worth $8,800,000 after acquiring an additional 4,410 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.
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Albemarle 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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