Albemarle Co. (NYSE:ALB – Get Free Report)’s share price gapped down prior to trading on Monday after Royal Bank of Canada lowered their price target on the stock from $212.00 to $163.00. The stock had previously closed at $127.98, but opened at $125.09. Royal Bank of Canada currently has an outperform rating on the stock. Albemarle shares last traded at $121.66, with a volume of 566,493 shares.
ALB has been the topic of several other research reports. Bank of America downgraded shares of Albemarle from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $212.00 to $161.00 in a report on Wednesday, October 18th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Albemarle from $260.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, August 7th. Wells Fargo & Company cut their price objective on shares of Albemarle from $260.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, October 9th. Evercore ISI cut their price objective on shares of Albemarle from $295.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, September 8th. Finally, KeyCorp cut their price objective on shares of Albemarle from $254.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday. Four analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $234.50.
Institutional Investors Weigh In On Albemarle
Albemarle Stock Down 6.6 %
The stock has a market cap of $14.02 billion, a PE ratio of 4.24, a price-to-earnings-growth ratio of 0.43 and a beta of 1.67. The company has a current ratio of 1.74, a quick ratio of 0.88 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $164.07 and a 200-day moving average price of $192.02.
Albemarle (NYSE:ALB – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The specialty chemicals company reported $2.74 EPS for the quarter, missing the consensus estimate of $3.70 by ($0.96). Albemarle had a net margin of 33.63% and a return on equity of 36.98%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the company posted $7.50 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, analysts forecast that Albemarle Co. will post 25.32 earnings per share for the current year.
Albemarle Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, December 14th. Albemarle’s dividend payout ratio is currently 5.67%.
Albemarle Company Profile
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.
- Five stocks we like better than Albemarle
- 3 Warren Buffett Stocks to Buy Now
- These 5 small-cap impact stocks are making social change
- How to Invest in the Healthcare Sector
- Alphabet slays its earnings but falls on its sword with cloud
- Crypto vs Stocks: How to Choose Your Investments
- There’s nothing artificial about NVIDIA’s relationship with AI
Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.