Brokerages Anticipate Albemarle Co. (ALB) to Announce $1.21 EPS

Equities research analysts expect Albemarle Co. (NYSE:ALB) to post $1.21 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Albemarle’s earnings, with estimates ranging from $1.17 to $1.27. Albemarle reported earnings per share of $0.78 in the same quarter last year, which would indicate a positive year-over-year growth rate of 55.1%. The firm is expected to report its next quarterly earnings results on Monday, February 26th.

On average, analysts expect that Albemarle will report full year earnings of $4.47 per share for the current year, with EPS estimates ranging from $4.42 to $4.52. For the next financial year, analysts anticipate that the company will post earnings of $5.18 per share, with EPS estimates ranging from $4.90 to $5.40. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Albemarle.

Albemarle (NYSE:ALB) last announced its earnings results on Wednesday, November 8th. The specialty chemicals company reported $1.08 EPS for the quarter, topping the consensus estimate of $1.07 by $0.01. The company had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $732.19 million. Albemarle had a return on equity of 11.61% and a net margin of 30.07%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share.

Several brokerages have recently issued reports on ALB. Jefferies Group upped their price target on Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, November 14th. Deutsche Bank lowered Albemarle from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Robert W. Baird reissued a “hold” rating and issued a $135.00 target price on shares of Albemarle in a research note on Wednesday, November 1st. Royal Bank of Canada increased their target price on Albemarle from $149.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Finally, Nomura increased their target price on Albemarle to $159.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $128.45.

Shares of Albemarle (ALB) traded down $2.66 during mid-day trading on Monday, hitting $128.65. The stock had a trading volume of 1,100,000 shares, compared to its average volume of 1,290,000. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $14,220.00, a PE ratio of 32.68, a PEG ratio of 2.00 and a beta of 1.69. Albemarle has a 12 month low of $85.60 and a 12 month high of $144.99.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.28 annualized dividend and a dividend yield of 0.99%. Albemarle’s dividend payout ratio is currently 45.71%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Albemarle by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 12,501,329 shares of the specialty chemicals company’s stock worth $1,319,389,000 after purchasing an additional 213,530 shares during the last quarter. Jennison Associates LLC lifted its holdings in Albemarle by 21.4% during the 3rd quarter. Jennison Associates LLC now owns 7,797,076 shares of the specialty chemicals company’s stock worth $1,062,819,000 after purchasing an additional 1,375,546 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Albemarle by 258.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,561,987 shares of the specialty chemicals company’s stock worth $621,845,000 after purchasing an additional 3,287,989 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in Albemarle by 69.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 1,661,821 shares of the specialty chemicals company’s stock valued at $175,389,000 after acquiring an additional 679,453 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Albemarle by 95.3% in the 3rd quarter. Janus Henderson Group PLC now owns 1,595,684 shares of the specialty chemicals company’s stock valued at $217,507,000 after acquiring an additional 778,649 shares in the last quarter. Institutional investors own 87.99% of the company’s stock.

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About Albemarle

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.

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Earnings History and Estimates for Albemarle (NYSE:ALB)

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