Zacks: Analysts Expect Albemarle Co. (ALB) Will Post Quarterly Sales of $791.46 Million

Brokerages expect Albemarle Co. (NYSE:ALB) to report $791.46 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Albemarle’s earnings. The highest sales estimate is $811.00 million and the lowest is $777.00 million. Albemarle posted sales of $696.66 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 13.6%. The company is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, February 27th.

According to Zacks, analysts expect that Albemarle will report full-year sales of $791.46 million for the current fiscal year, with estimates ranging from $2.99 billion to $3.03 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.28 billion per share, with estimates ranging from $3.25 billion to $3.33 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Albemarle.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 earnings per share (EPS) for the quarter, topping the 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 company 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 earned $0.91 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year.

Several research firms have issued reports on ALB. Seaport Global Securities restated a “hold” rating and set a $130.00 price target on shares of Albemarle in a research report on Monday. UBS Group upped their price target on shares of Albemarle from $123.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. Royal Bank of Canada restated a “buy” rating and set a $149.00 price target on shares of Albemarle in a research report on Wednesday, October 18th. KeyCorp upped their price target on shares of Albemarle from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, October 16th. Finally, Jefferies Group upped their price target on shares of Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Albemarle currently has a consensus rating of “Buy” and a consensus target price of $127.88.

Hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC bought a new position in Albemarle in the second quarter worth about $11,681,000. Sumitomo Life Insurance Co. bought a new position in Albemarle in the third quarter worth about $1,703,000. Hardman Johnston Global Advisors LLC raised its stake in Albemarle by 1.9% in the third quarter. Hardman Johnston Global Advisors LLC now owns 285,837 shares of the specialty chemicals company’s stock worth $38,962,000 after buying an additional 5,430 shares in the last quarter. Advisory Services Network LLC raised its stake in Albemarle by 43.7% in 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 in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Albemarle by 98.8% in the third quarter. Allianz Asset Management GmbH now owns 1,307,904 shares of the specialty chemicals company’s stock worth $178,281,000 after buying an additional 650,158 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Shares of Albemarle (NYSE:ALB) opened at $106.63 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11. Albemarle has a 1 year low of $90.35 and a 1 year high of $144.99. The stock has a market cap of $11,780.00, a PE ratio of 38.08, a price-to-earnings-growth ratio of 1.38 and a beta of 1.56.

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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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Earnings History and Estimates for Albemarle (NYSE:ALB)

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