Brokerages Expect Albemarle Co. (NYSE:ALB) Will Announce Earnings of $1.35 Per Share

Equities analysts predict that Albemarle Co. (NYSE:ALBGet Rating) will post $1.35 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Albemarle’s earnings. The lowest EPS estimate is $1.15 and the highest is $1.45. Albemarle posted earnings per share of $0.89 in the same quarter last year, which would suggest a positive year over year growth rate of 51.7%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Albemarle will report full-year earnings of $6.21 per share for the current year, with EPS estimates ranging from $5.60 to $6.80. For the next year, analysts forecast that the business will report earnings of $8.11 per share, with EPS estimates ranging from $4.11 to $10.77. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Albemarle.

Albemarle (NYSE:ALBGet Rating) last posted its earnings results on Wednesday, May 4th. The specialty chemicals company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.63 by $0.75. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.03 billion. Albemarle had a return on equity of 10.35% and a net margin of 7.76%. The business’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period last year, the company earned $1.10 earnings per share.

ALB has been the subject of several research reports. Bank of America dropped their target price on Albemarle from $230.00 to $216.00 in a research report on Friday, February 18th. KeyCorp raised their target price on Albemarle from $163.00 to $198.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 5th. StockNews.com raised Albemarle from a “sell” rating to a “hold” rating in a research note on Friday. BMO Capital Markets decreased their target price on Albemarle from $300.00 to $280.00 in a research note on Friday, February 18th. Finally, Mizuho raised their target price on Albemarle from $243.00 to $293.00 in a research note on Friday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $257.67.

Albemarle stock traded up $5.91 during trading hours on Friday, hitting $242.41. The stock had a trading volume of 2,320,355 shares, compared to its average volume of 1,048,893. The company has a quick ratio of 0.64, a current ratio of 1.11 and a debt-to-equity ratio of 0.33. The stock has a market cap of $28.39 billion, a price-to-earnings ratio of 101.85, a P/E/G ratio of 1.14 and a beta of 1.55. Albemarle has a one year low of $152.58 and a one year high of $291.48. The business’s 50 day simple moving average is $203.48 and its 200-day simple moving average is $226.35.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 10th will be issued a dividend of $0.395 per share. The ex-dividend date is Thursday, June 9th. This represents a $1.58 dividend on an annualized basis and a yield of 0.65%. Albemarle’s dividend payout ratio (DPR) is currently 66.39%.

In other Albemarle news, insider Netha N. Johnson purchased 1,060 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The shares were acquired at an average cost of $187.81 per share, for a total transaction of $199,078.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Kent Masters bought 5,241 shares of the stock in a transaction on Friday, February 18th. The stock was purchased at an average price 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.

Several institutional investors and hedge funds have recently modified their holdings of ALB. Norges Bank bought a new stake in shares of Albemarle in the fourth quarter valued at $185,328,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Albemarle in the third quarter valued at $144,979,000. Capital Research Global Investors grew its position in shares of Albemarle by 75.2% in the third quarter. Capital Research Global Investors now owns 1,219,288 shares of the specialty chemicals company’s stock valued at $266,987,000 after purchasing an additional 523,340 shares in the last quarter. Discovery Value Fund purchased a new position in shares of Albemarle in the third quarter valued at $100,873,000. Finally, Marshall Wace LLP grew its position in shares of Albemarle by 938.1% in the fourth quarter. Marshall Wace LLP now owns 402,597 shares of the specialty chemicals company’s stock valued at $94,115,000 after purchasing an additional 363,816 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

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.

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Earnings History and Estimates for Albemarle (NYSE:ALB)

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