Albemarle Co. (NYSE:ALB) – Seaport Global Securities issued their FY2019 earnings per share (EPS) estimates for Albemarle in a research note issued to investors on Monday, according to Zacks Investment Research. Seaport Global Securities analyst M. Harrison anticipates that the specialty chemicals company will post earnings per share of $5.78 for the year. Seaport Global Securities has a “Hold” rating and a $130.00 price objective on the stock.
ALB has been the topic of a number of other reports. Robert W. Baird reiterated a “hold” rating and set a $135.00 target price on shares of Albemarle in a report on Wednesday, November 1st. UBS Group upgraded shares of Albemarle from a “neutral” rating to a “buy” rating and increased their target price for the stock from $113.00 to $150.00 in a report on Tuesday, January 30th. Jefferies Group increased their target price on shares of Albemarle from $156.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. Oppenheimer reiterated a “buy” rating on shares of Albemarle in a report on Wednesday, January 17th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $149.00 target price on shares of Albemarle in a report on Wednesday, October 18th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $127.88.
Shares of Albemarle (NYSE:ALB) traded up $3.01 during mid-day trading on Tuesday, hitting $111.46. 1,154,122 shares of the stock traded hands, compared to its average volume of 2,348,458. The firm has a market cap of $11,860.00, a price-to-earnings ratio of 39.83, a P/E/G ratio of 1.47 and a beta of 1.56. Albemarle has a 52-week low of $91.02 and a 52-week high of $144.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.56 and a current ratio of 2.11.
Large investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC purchased a new stake in shares of Albemarle in the 2nd quarter valued at approximately $11,681,000. Sumitomo Life Insurance Co. purchased a new position in shares of Albemarle in the 3rd quarter valued at $1,703,000. Hardman Johnston Global Advisors LLC grew its position in shares of Albemarle by 1.9% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 285,837 shares of the specialty chemicals company’s stock valued at $38,962,000 after buying an additional 5,430 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Albemarle by 43.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,273 shares of the specialty chemicals company’s stock valued at $134,000 after buying an additional 387 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Albemarle by 98.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,307,904 shares of the specialty chemicals company’s stock valued at $178,281,000 after buying an additional 650,158 shares during the last quarter. 87.38% of the stock is currently owned by institutional investors.
WARNING: This piece was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece on another site, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/02/14/albemarle-co-expected-to-earn-fy2019-earnings-of-5-78-per-share-alb.html.
Albemarle 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.
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.