Brokerages Expect Albemarle Co. (NYSE:ALB) Will Announce Earnings of $1.63 Per Share

Wall Street analysts expect that Albemarle Co. (NYSE:ALB) will announce earnings of $1.63 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Albemarle’s earnings, with the highest EPS estimate coming in at $1.78 and the lowest estimate coming in at $1.43. Albemarle reported earnings of $1.31 per share during the same quarter last year, which indicates a positive year over year growth rate of 24.4%. The business is scheduled to announce its next earnings results on Wednesday, November 6th.

On average, analysts expect that Albemarle will report full-year earnings of $6.37 per share for the current financial year, with EPS estimates ranging from $6.20 to $6.55. For the next financial year, analysts forecast that the company will report earnings of $6.61 per share, with EPS estimates ranging from $4.96 to $7.14. Zacks’ EPS averages are an average based on a survey of analysts that cover Albemarle.

Albemarle (NYSE:ALB) last released its earnings results on Wednesday, August 7th. The specialty chemicals company reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.14. The business had revenue of $885.05 million for the quarter, compared to analyst estimates of $893.50 million. Albemarle had a return on equity of 15.71% and a net margin of 16.01%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share.

A number of research firms have recently issued reports on ALB. Credit Suisse Group set a $106.00 target price on Albemarle and gave the company a “buy” rating in a report on Friday, August 9th. TheStreet cut Albemarle from a “b-” rating to a “c+” rating in a research report on Monday, May 20th. Nomura lifted their price target on Albemarle from $70.00 to $71.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Gabelli initiated coverage on Albemarle in a research report on Thursday. They set a “buy” rating and a $109.00 price target on the stock. Finally, Jefferies Financial Group lowered their price target on Albemarle from $114.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Albemarle has a consensus rating of “Hold” and a consensus price target of $92.20.

Shares of NYSE:ALB traded up $0.08 during trading on Monday, reaching $69.36. The company had a trading volume of 337,383 shares, compared to its average volume of 1,413,467. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 0.83 and a beta of 1.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.45 and a quick ratio of 0.87. The stock’s fifty day moving average price is $65.99 and its 200 day moving average price is $73.71. Albemarle has a fifty-two week low of $58.63 and a fifty-two week high of $108.74.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, September 12th. Albemarle’s payout ratio is 26.82%.

In other Albemarle news, insider Eric Norris bought 3,090 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was acquired at an average price of $64.66 per share, with a total value of $199,799.40. Following the completion of the transaction, the insider now directly owns 164 shares in the company, valued at approximately $10,604.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.02% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Cornerstone Advisors Inc. boosted its position in shares of Albemarle by 19.4% in the second quarter. Cornerstone Advisors Inc. now owns 3,490 shares of the specialty chemicals company’s stock worth $246,000 after buying an additional 567 shares during the period. Kistler Tiffany Companies LLC boosted its position in shares of Albemarle by 29.7% in the second quarter. Kistler Tiffany Companies LLC now owns 1,885 shares of the specialty chemicals company’s stock worth $133,000 after buying an additional 432 shares during the period. Evolution Wealth Advisors LLC acquired a new stake in shares of Albemarle in the second quarter worth $1,878,000. Arizona State Retirement System boosted its position in shares of Albemarle by 14.1% in the second quarter. Arizona State Retirement System now owns 52,073 shares of the specialty chemicals company’s stock worth $3,666,000 after buying an additional 6,441 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Albemarle by 18.0% in the first quarter. Envestnet Asset Management Inc. now owns 56,910 shares of the specialty chemicals company’s stock worth $4,665,000 after buying an additional 8,665 shares during the period. 90.63% of the stock is owned by institutional investors and hedge funds.

About Albemarle

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and value-added lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications 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, life science, pharmaceutical, and other markets.

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Earnings History and Estimates for Albemarle (NYSE:ALB)

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