Equities research analysts expect that Albemarle Co. (NYSE:ALB) will announce sales of $797.18 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Albemarle’s earnings, with the lowest sales estimate coming in at $775.00 million and the highest estimate coming in at $812.90 million. Albemarle posted sales of $737.26 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.1%. The company is expected to announce its next quarterly earnings report on Monday, August 6th.
According to Zacks, analysts expect that Albemarle will report full year sales of $3.33 billion for the current financial year, with estimates ranging from $3.21 billion to $3.51 billion. For the next year, analysts anticipate that the business will post sales of $3.57 billion per share, with estimates ranging from $3.42 billion to $3.79 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Albemarle.
Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, May 9th. The specialty chemicals company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.10. The firm had revenue of $821.60 million for the quarter, compared to the consensus estimate of $798.20 million. Albemarle had a return on equity of 13.80% and a net margin of 4.27%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share.
A number of equities analysts have weighed in on the company. Zacks Investment Research raised Albemarle from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Monday. TheStreet raised Albemarle from a “c+” rating to a “b” rating in a research report on Wednesday, May 9th. Nomura decreased their target price on Albemarle to $130.00 and set a “buy” rating on the stock in a research report on Friday, May 11th. Berenberg Bank began coverage on Albemarle in a research report on Tuesday, February 27th. They issued a “buy” rating and a $150.00 target price on the stock. Finally, SunTrust Banks upped their target price on Albemarle to $110.00 and gave the company a “hold” rating in a research report on Thursday, March 1st. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $124.71.
NYSE ALB traded down $0.20 during trading on Tuesday, reaching $94.82. 1,742,042 shares of the company’s stock were exchanged, compared to its average volume of 2,135,927. The company has a market cap of $11.28 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.19 and a beta of 1.67. The company has a quick ratio of 1.72, a current ratio of 2.48 and a debt-to-equity ratio of 0.36. Albemarle has a fifty-two week low of $86.75 and a fifty-two week high of $144.99.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, June 14th. Albemarle’s dividend payout ratio (DPR) is currently 29.19%.
Several hedge funds have recently modified their holdings of ALB. Global X Management Co. LLC boosted its stake in shares of Albemarle by 497.9% in the fourth quarter. Global X Management Co. LLC now owns 1,506,961 shares of the specialty chemicals company’s stock valued at $192,725,000 after buying an additional 1,254,927 shares during the period. Carmignac Gestion bought a new stake in shares of Albemarle in the first quarter valued at approximately $113,591,000. Iridian Asset Management LLC CT boosted its stake in shares of Albemarle by 43.6% in the first quarter. Iridian Asset Management LLC CT now owns 1,985,826 shares of the specialty chemicals company’s stock valued at $184,166,000 after buying an additional 602,784 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Albemarle by 334.1% in the first quarter. Principal Financial Group Inc. now owns 741,798 shares of the specialty chemicals company’s stock valued at $68,795,000 after buying an additional 570,899 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Albemarle by 5.0% in the first quarter. BlackRock Inc. now owns 8,462,171 shares of the specialty chemicals company’s stock valued at $784,785,000 after buying an additional 400,323 shares during the period. Institutional investors and hedge funds own 86.34% of the company’s stock.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes, life science, pharmaceutical, and other markets.
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