Albemarle Co. (ALB) Expected to Announce Earnings of $1.43 Per Share

Wall Street analysts forecast that Albemarle Co. (NYSE:ALB) will post earnings of $1.43 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Albemarle’s earnings, with the lowest EPS estimate coming in at $1.35 and the highest estimate coming in at $1.54. Albemarle posted earnings per share of $1.36 during the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The business is expected to report its next quarterly earnings report on Tuesday, August 6th.

On average, analysts expect that Albemarle will report full year earnings of $6.20 per share for the current fiscal year, with EPS estimates ranging from $5.73 to $6.40. For the next financial year, analysts anticipate that the firm will post earnings of $6.78 per share, with EPS estimates ranging from $4.66 to $7.47. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Albemarle.

Albemarle (NYSE:ALB) last announced its quarterly earnings results on Wednesday, May 8th. The specialty chemicals company reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.02. The business had revenue of $832.06 million for the quarter, compared to analyst estimates of $827.94 million. Albemarle had a return on equity of 15.53% and a net margin of 20.54%. Albemarle’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 EPS.



ALB has been the topic of several recent analyst reports. Citigroup lowered Albemarle from a “buy” rating to a “neutral” rating and decreased their price target for the company from $90.00 to $81.00 in a research note on Tuesday, February 5th. ValuEngine lowered Albemarle from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Loop Capital boosted their price target on Albemarle from $112.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, February 21st. Deutsche Bank boosted their price target on Albemarle from $84.00 to $95.00 and gave the company a “hold” rating in a research note on Monday, February 25th. Finally, reaffirmed a “buy” rating and issued a $157.00 price target on shares of Albemarle in a research note on Thursday, February 14th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Albemarle currently has a consensus rating of “Hold” and an average price target of $98.98.

In other Albemarle news, CFO Scott Tozier sold 2,961 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $91.00, for a total value of $269,451.00. Following the transaction, the chief financial officer now owns 49,672 shares of the company’s stock, valued at $4,520,152. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Deeanne J. Marlow acquired 1,000 shares of Albemarle stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $70.85 per share, for a total transaction of $70,850.00. Following the purchase, the senior vice president now owns 1,000 shares of the company’s stock, valued at approximately $70,850. The disclosure for this purchase can be found here. 1.02% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Lowe Brockenbrough & Co. Inc. increased its holdings in shares of Albemarle by 460.3% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 28,426 shares of the specialty chemicals company’s stock worth $2,330,000 after acquiring an additional 23,353 shares in the last quarter. B. Riley Wealth Management Inc. acquired a new position in Albemarle during the first quarter valued at approximately $214,000. Cleararc Capital Inc. acquired a new position in Albemarle during the first quarter valued at approximately $211,000. Horizon Investments LLC acquired a new position in Albemarle during the first quarter valued at approximately $242,000. Finally, Slow Capital Inc. boosted its position in Albemarle by 4.3% during the first quarter. Slow Capital Inc. now owns 7,444 shares of the specialty chemicals company’s stock valued at $610,000 after purchasing an additional 309 shares during the last quarter. 88.58% of the stock is currently owned by institutional investors and hedge funds.

ALB stock traded up $0.46 during trading on Friday, hitting $66.80. The company had a trading volume of 1,544,385 shares, compared to its average volume of 1,890,079. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.55 and a quick ratio of 0.96. The firm has a market cap of $7.08 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 0.71 and a beta of 1.56. Albemarle has a fifty-two week low of $67.06 and a fifty-two week high of $108.74.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.3675 dividend. This represents a $1.47 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, June 13th. Albemarle’s dividend payout ratio is currently 26.82%.

Albemarle Company Profile

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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