Albemarle (NYSE:ALB – Get Rating) is set to issue its quarterly earnings data after the market closes on Wednesday, May 4th. Analysts expect the company to announce earnings of $1.66 per share for the quarter. Albemarle has set its FY 2022 guidance at $5.650-$6.650 EPS and its FY22 guidance at $5.65-6.65 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.
Albemarle (NYSE:ALB – Get Rating) last announced its earnings results on Wednesday, February 16th. The specialty chemicals company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. The company had revenue of $894.20 million during the quarter, compared to the consensus estimate of $889.88 million. Albemarle had a return on equity of 7.79% and a net margin of 3.72%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 earnings per share. On average, analysts expect Albemarle to post $6 EPS for the current fiscal year and $8 EPS for the next fiscal year.
Shares of Albemarle stock opened at $187.76 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The company has a market cap of $21.99 billion, a PE ratio of 175.48, a P/E/G ratio of 1.73 and a beta of 1.55. The business has a 50 day moving average of $201.87 and a 200 day moving average of $227.74. Albemarle has a 52 week low of $150.00 and a 52 week high of $291.48.
ALB has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their target price on Albemarle from $300.00 to $280.00 in a report on Friday, February 18th. HSBC upgraded Albemarle from a “hold” rating to a “buy” rating and upped their target price for the company from $250.00 to $280.00 in a report on Wednesday, January 26th. Citigroup decreased their target price on Albemarle from $280.00 to $244.00 in a report on Friday, February 18th. Bank of America decreased their price objective on Albemarle from $230.00 to $216.00 in a report on Friday, February 18th. Finally, StockNews.com initiated coverage on Albemarle in a report on Thursday, March 31st. They issued a “sell” rating for the company. Four research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $240.81.
In other Albemarle news, insider Netha N. Johnson acquired 1,060 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The shares were bought at an average cost of $187.81 per share, with a total value of $199,078.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J Kent Masters acquired 5,241 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The shares were acquired at an average cost of $190.80 per share, for a total transaction of $999,982.80. The disclosure for this purchase can be found here. Company insiders own 0.25% of the company’s stock.
Large investors have recently made changes to their positions in the business. Salem Investment Counselors Inc. boosted its position in Albemarle by 127.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 125 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 70 shares during the last quarter. SkyView Investment Advisors LLC purchased a new position in Albemarle in the fourth quarter worth about $49,000. Forum Financial Management LP purchased a new position in Albemarle in the fourth quarter worth about $413,000. Kingsview Wealth Management LLC boosted its position in Albemarle by 4.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,417 shares of the specialty chemicals company’s stock worth $565,000 after purchasing an additional 110 shares during the last quarter. Finally, Vident Investment Advisory LLC boosted its position in Albemarle by 28.5% in the fourth quarter. Vident Investment Advisory LLC now owns 4,011 shares of the specialty chemicals company’s stock worth $937,000 after purchasing an additional 890 shares during the last quarter. 78.48% of the stock is currently owned by institutional investors and hedge funds.
About Albemarle (Get Rating)
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Lithium, Bromine, and Catalysts. The Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties; and reagents, such as butyllithium and lithium aluminum hydride for use in lithium batteries for consumer electronics and electric vehicles, high performance greases, thermoplastic elastomers for car tires, rubber soles, plastic bottles, catalysts for chemical reactions, organic synthesis processes in the areas of steroid chemistry and vitamins, life sciences, pharmaceutical industry, and other markets.
- Get a free copy of the StockNews.com research report on Albemarle (ALB)
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