Research Analysts Issue Forecasts for Albemarle Corporation’s FY2020 Earnings (ALB)

Albemarle Corporation (NYSE:ALB) – Equities researchers at Oppenheimer Holdings upped their FY2020 EPS estimates for shares of Albemarle Corporation in a note issued to investors on Monday. Oppenheimer Holdings analyst C. Rusch now expects that the specialty chemicals company will post earnings per share of $6.12 for the year, up from their prior forecast of $5.89. Oppenheimer Holdings currently has a “Outperform” rating and a $157.00 target price on the stock. Oppenheimer Holdings also issued estimates for Albemarle Corporation’s FY2021 earnings at $6.88 EPS.

Several other analysts also recently issued reports on the company. Royal Bank Of Canada restated a “buy” rating and issued a $149.00 price objective on shares of Albemarle Corporation in a research report on Wednesday. CIBC began coverage on Albemarle Corporation in a research report on Thursday, August 17th. They issued an “outperform” rating and a $133.00 price objective on the stock. Piper Jaffray Companies restated an “overweight” rating and issued a $47.00 price objective on shares of Albemarle Corporation in a research report on Thursday, June 29th. SunTrust Banks, Inc. downgraded Albemarle Corporation from a “buy” rating to a “hold” rating and set a $121.00 price objective on the stock. in a research report on Wednesday, August 9th. Finally, BidaskClub downgraded Albemarle Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $123.63.

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Shares of Albemarle Corporation (NYSE ALB) traded down 0.12% on Tuesday, reaching $139.49. The company’s stock had a trading volume of 798,719 shares. The stock has a market capitalization of $15.41 billion, a P/E ratio of 17.84 and a beta of 1.67. Albemarle Corporation has a 1-year low of $76.32 and a 1-year high of $140.10. The company has a 50 day moving average of $130.64 and a 200 day moving average of $116.10.

Albemarle Corporation (NYSE:ALB) last announced its earnings results on Monday, August 7th. The specialty chemicals company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.02. Albemarle Corporation had a return on equity of 11.59% and a net margin of 31.49%. The firm had revenue of $737.25 million for the quarter, compared to analyst estimates of $735.50 million. During the same quarter last year, the firm posted $0.93 EPS. The business’s revenue was up 10.1% on a year-over-year basis.

In other Albemarle Corporation news, EVP Karen G. Narwold sold 11,500 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $115.95, for a total transaction of $1,333,425.00. Following the transaction, the executive vice president now owns 36,620 shares of the company’s stock, valued at approximately $4,246,089. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Matthew Juneau sold 5,397 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $115.77, for a total value of $624,810.69. Following the transaction, the executive vice president now directly owns 360 shares in the company, valued at approximately $41,677.20. The disclosure for this sale can be found here. Company insiders own 0.74% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Carroll Financial Associates Inc. lifted its holdings in shares of Albemarle Corporation by 0.3% in the 2nd quarter. Carroll Financial Associates Inc. now owns 982 shares of the specialty chemicals company’s stock worth $103,000 after purchasing an additional 3 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Albemarle Corporation by 0.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,458 shares of the specialty chemicals company’s stock worth $154,000 after purchasing an additional 4 shares during the last quarter. Scotia Capital Inc. lifted its holdings in shares of Albemarle Corporation by 0.5% in the 2nd quarter. Scotia Capital Inc. now owns 2,022 shares of the specialty chemicals company’s stock worth $213,000 after purchasing an additional 10 shares during the last quarter. Alps Advisors Inc. lifted its holdings in shares of Albemarle Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 4,606 shares of the specialty chemicals company’s stock worth $486,000 after purchasing an additional 12 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Albemarle Corporation by 2.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 968 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 20 shares during the last quarter. 83.67% of the stock is currently owned by institutional investors and hedge funds.

Albemarle Corporation Company Profile

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

Earnings History and Estimates for Albemarle Corporation (NYSE:ALB)

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