Albemarle (NYSE:ALB) Issues FY 2022 Earnings Guidance

Albemarle (NYSE:ALBGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $12.30-$15.00 for the period, compared to the consensus estimate of $10.88. The company issued revenue guidance of $5.80 billion-$6.20 billion, compared to the consensus revenue estimate of $5.44 billion.

ALB has been the subject of a number of analyst reports. HSBC upgraded shares of Albemarle from a hold rating to a buy rating and upped their price objective for the stock from $250.00 to $280.00 in a research report on Wednesday, January 26th. Mizuho raised their target price on Albemarle from $243.00 to $293.00 in a research note on Friday, May 6th. Cowen raised their target price on Albemarle from $275.00 to $300.00 in a research note on Friday, May 6th. KeyCorp boosted their target price on Albemarle from $163.00 to $198.00 and gave the company an underweight rating in a research report on Tuesday, April 5th. Finally, StockNews.com raised Albemarle from a sell rating to a hold rating in a research report on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Albemarle currently has a consensus rating of Buy and a consensus target price of $273.75.

NYSE ALB traded up $6.50 during trading on Monday, reaching $242.94. 999,829 shares of the company’s stock were exchanged, compared to its average volume of 1,165,566. Albemarle has a fifty-two week low of $154.23 and a fifty-two week high of $291.48. The stock has a market capitalization of $28.45 billion, a P/E ratio of 102.08, a PEG ratio of 0.84 and a beta of 1.55. The business has a 50 day moving average price of $212.34 and a 200-day moving average price of $224.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.11 and a quick ratio of 0.63.

Albemarle (NYSE:ALBGet Rating) last released its earnings results on Wednesday, May 4th. The specialty chemicals company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.65. Albemarle had a return on equity of 10.35% and a net margin of 7.76%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The company’s quarterly revenue was up 36.0% on a year-over-year basis. On average, analysts forecast that Albemarle will post 11.11 earnings per share for the current year.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its position in Albemarle by 35.2% in the second quarter. Morgan Stanley now owns 507,062 shares of the specialty chemicals company’s stock worth $85,420,000 after acquiring an additional 131,903 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Albemarle by 4.4% during the fourth quarter. Stifel Financial Corp now owns 56,422 shares of the specialty chemicals company’s stock valued at $13,190,000 after purchasing an additional 2,367 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in Albemarle by 18.1% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 13,189 shares of the specialty chemicals company’s stock valued at $3,083,000 after acquiring an additional 2,017 shares in the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of Albemarle by 127.3% during the fourth quarter. Salem Investment Counselors Inc. now owns 125 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 70 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its holdings in shares of Albemarle by 110.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 4,016 shares of the specialty chemicals company’s stock worth $939,000 after acquiring an additional 2,112 shares during the period. Institutional investors and hedge funds 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.

See Also

Earnings History and Estimates for Albemarle (NYSE:ALB)

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