Albemarle (NYSE:ALB) announced its earnings results on Tuesday, February 27th. The specialty chemicals company reported $1.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.13, Bloomberg Earnings reports. The business had revenue of $857.79 million for the quarter, compared to analyst estimates of $791.46 million. Albemarle had a net margin of 1.79% and a return on equity of 13.27%. Albemarle updated its FY18 guidance to $5.00-5.40 EPS.
Shares of Albemarle (ALB) traded down $2.46 during trading hours on Wednesday, hitting $100.33. 1,963,657 shares of the company were exchanged, compared to its average volume of 2,564,641. The company has a market capitalization of $11,090.00, a price-to-earnings ratio of 23.61, a PEG ratio of 1.24 and a beta of 1.59. The company has a current ratio of 2.06, a quick ratio of 1.57 and a debt-to-equity ratio of 0.37. Albemarle has a fifty-two week low of $90.49 and a fifty-two week high of $144.99.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Wednesday, March 14th. This is a positive change from Albemarle’s previous quarterly dividend of $0.32. Albemarle’s payout ratio is 30.12%.
A number of equities research analysts have recently issued reports on the stock. Seaport Global Securities reissued a “buy” rating on shares of Albemarle in a research note on Tuesday, March 6th. Royal Bank of Canada cut their target price on shares of Albemarle from $133.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, March 2nd. BMO Capital Markets reissued an “outperform” rating and issued a $130.00 price objective (down from $160.00) on shares of Albemarle in a research report on Friday, March 2nd. Loop Capital set a $130.00 price target on shares of Albemarle and gave the stock a “buy” rating in a research note on Friday, March 2nd. Finally, Nomura cut their price objective on shares of Albemarle from $161.00 to $141.00 and set a “buy” rating for the company in a research report on Thursday, March 1st. Eight equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Albemarle has an average rating of “Buy” and an average target price of $128.07.
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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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