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.
ILLEGAL ACTIVITY WARNING: This story was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another site, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this story can be viewed at https://www.dispatchtribunal.com/2018/01/13/brokerages-anticipate-albemarle-co-alb-to-announce-1-21-eps.html.
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.
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
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.