$1.75 EPS Expected for Albemarle Co. (NYSE:ALB) This Quarter

Wall Street analysts expect Albemarle Co. (NYSE:ALB) to report earnings per share of $1.75 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Albemarle’s earnings. The highest EPS estimate is $1.81 and the lowest is $1.69. Albemarle reported earnings of $1.53 per share in the same quarter last year, which indicates a positive year over year growth rate of 14.4%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, February 19th.

On average, analysts expect that Albemarle will report full year earnings of $6.06 per share for the current year, with EPS estimates ranging from $5.99 to $6.12. For the next financial year, analysts anticipate that the business will report earnings of $4.78 per share, with EPS estimates ranging from $4.35 to $5.05. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Albemarle.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, November 6th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.04. The company had revenue of $879.70 million during the quarter, compared to analysts’ expectations of $883.67 million. Albemarle had a return on equity of 15.94% and a net margin of 16.27%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.31 earnings per share.

Several research firms recently commented on ALB. Buckingham Research reduced their target price on Albemarle from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. UBS Group reduced their target price on Albemarle from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. ValuEngine upgraded Albemarle from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Morgan Stanley reduced their target price on Albemarle from $60.00 to $50.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Finally, Robert W. Baird restated a “buy” rating and set a $78.00 target price on shares of Albemarle in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $83.20.

In other Albemarle news, CFO Scott Tozier sold 14,500 shares of Albemarle stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $80.13, for a total transaction of $1,161,885.00. Following the completion of the sale, the chief financial officer now owns 66,925 shares of the company’s stock, valued at $5,362,700.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.02% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Carnegie Capital Asset Management LLC raised its position in Albemarle by 2.0% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 8,337 shares of the specialty chemicals company’s stock valued at $580,000 after purchasing an additional 160 shares during the last quarter. Regent Investment Management LLC grew its holdings in shares of Albemarle by 1.4% during the 3rd quarter. Regent Investment Management LLC now owns 13,070 shares of the specialty chemicals company’s stock worth $909,000 after acquiring an additional 175 shares during the period. Vectors Research Management LLC grew its holdings in shares of Albemarle by 2.4% during the 3rd quarter. Vectors Research Management LLC now owns 8,095 shares of the specialty chemicals company’s stock worth $563,000 after acquiring an additional 190 shares during the period. HNP Capital LLC grew its holdings in shares of Albemarle by 2.4% during the 3rd quarter. HNP Capital LLC now owns 8,097 shares of the specialty chemicals company’s stock worth $544,000 after acquiring an additional 192 shares during the period. Finally, CENTRAL TRUST Co grew its holdings in shares of Albemarle by 21.8% during the 3rd quarter. CENTRAL TRUST Co now owns 1,118 shares of the specialty chemicals company’s stock worth $77,000 after acquiring an additional 200 shares during the period. 92.14% of the stock is owned by hedge funds and other institutional investors.

Albemarle stock traded down $0.72 during midday trading on Friday, hitting $81.18. 1,409,564 shares of the company’s stock were exchanged, compared to its average volume of 2,008,741. Albemarle has a 52-week low of $58.63 and a 52-week high of $93.14. The stock has a 50-day moving average price of $72.40 and a two-hundred day moving average price of $68.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.82 and a current ratio of 1.39. The company has a market cap of $8.63 billion, a P/E ratio of 15.09, a PEG ratio of 1.68 and a beta of 1.67.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th were paid a dividend of $0.368 per share. The ex-dividend date of this dividend was Thursday, December 12th. This represents a $1.47 annualized dividend and a yield of 1.81%. This is a positive change from Albemarle’s previous quarterly dividend of $0.37. Albemarle’s payout ratio is 26.82%.

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.

Featured Story: Profit Margin

Get a free copy of the Zacks research report on Albemarle (ALB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Albemarle (NYSE:ALB)

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.