Analysts Issue Forecasts for Albemarle Co.’s Q2 2022 Earnings (NYSE:ALB)

Albemarle Co. (NYSE:ALBGet Rating) – Investment analysts at KeyCorp boosted their Q2 2022 earnings estimates for shares of Albemarle in a research report issued to clients and investors on Sunday, May 8th. KeyCorp analyst A. Yefremov now expects that the specialty chemicals company will post earnings of $2.69 per share for the quarter, up from their prior estimate of $1.43. KeyCorp currently has a “Underweight” rating and a $198.00 target price on the stock. KeyCorp also issued estimates for Albemarle’s Q3 2022 earnings at $3.63 EPS, Q4 2022 earnings at $3.15 EPS, FY2022 earnings at $11.85 EPS, FY2023 earnings at $25.19 EPS, FY2024 earnings at $25.36 EPS and FY2025 earnings at $28.51 EPS.

Other equities research analysts also recently issued research reports about the company. HSBC raised Albemarle from a “hold” rating to a “buy” rating and raised their price objective for the company from $250.00 to $280.00 in a report on Wednesday, January 26th. Robert W. Baird cut their target price on shares of Albemarle from $245.00 to $228.00 in a research note on Tuesday, February 22nd. TheStreet upgraded Albemarle from a “c+” rating to a “b” rating in a report on Wednesday, May 4th. Royal Bank of Canada upped their target price on shares of Albemarle from $276.00 to $300.00 in a report on Tuesday. Finally, Cowen lifted their price objective on shares of Albemarle from $275.00 to $300.00 in a report on Friday, May 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $272.11.

ALB opened at $221.43 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.64 and a current ratio of 1.11. Albemarle has a 52-week low of $152.58 and a 52-week high of $291.48. The firm has a market cap of $25.93 billion, a P/E ratio of 93.04, a price-to-earnings-growth ratio of 1.17 and a beta of 1.55. The business’s fifty day moving average is $204.79 and its 200-day moving average is $226.19.

Albemarle (NYSE:ALBGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The specialty chemicals company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.65. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Albemarle had a net margin of 7.76% and a return on equity of 10.35%. The company’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 earnings per share.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kozak & Associates Inc. acquired a new position in shares of Albemarle in the 3rd quarter valued at $27,000. Lowe Wealth Advisors LLC purchased a new stake in shares of Albemarle in the first quarter valued at about $28,000. City State Bank purchased a new position in Albemarle during the fourth quarter worth about $29,000. Salem Investment Counselors Inc. boosted its stake in Albemarle by 127.3% during the fourth quarter. Salem Investment Counselors Inc. now owns 125 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 70 shares during the period. Finally, Quent Capital LLC purchased a new position in Albemarle during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

In other Albemarle news, insider Netha N. Johnson purchased 1,060 shares of Albemarle stock in a transaction dated Friday, February 18th. The stock was acquired at an average price of $187.81 per share, for a total transaction of $199,078.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO J Kent Masters acquired 5,241 shares of the business’s stock in a transaction dated Friday, February 18th. The stock was purchased 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.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 10th will be paid a $0.395 dividend. The ex-dividend date is Thursday, June 9th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 0.71%. Albemarle’s payout ratio is currently 66.39%.

Albemarle Company Profile (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.

Further Reading

Earnings History and Estimates for Albemarle (NYSE:ALB)

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