Analysts predict that Albemarle Co. (NYSE:ALB) will announce sales of $806.51 million for the current quarter, Zacks reports. Four analysts have provided estimates for Albemarle’s earnings, with the highest sales estimate coming in at $829.00 million and the lowest estimate coming in at $788.92 million. Albemarle reported sales of $722.06 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.7%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, May 9th.
On average, analysts expect that Albemarle will report full-year sales of $3.31 billion for the current financial year, with estimates ranging from $3.23 billion to $3.39 billion. For the next year, analysts expect that the company will post sales of $3.54 billion per share, with estimates ranging from $3.41 billion to $3.61 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Albemarle.
Albemarle (NYSE:ALB) last issued its quarterly earnings data on Tuesday, February 27th. The specialty chemicals company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.21 by $0.13. Albemarle had a net margin of 1.79% and a return on equity of 13.27%. The firm had revenue of $857.79 million for the quarter, compared to analyst estimates of $791.46 million.
Several equities analysts have recently commented on ALB shares. UBS upgraded shares of Albemarle from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $113.00 to $150.00 in a report on Tuesday, January 30th. Jefferies Group decreased their price objective on shares of Albemarle to $150.00 and set a “buy” rating on the stock in a report on Friday, January 19th. Oppenheimer restated a “buy” rating on shares of Albemarle in a report on Wednesday, January 17th. Morgan Stanley began coverage on shares of Albemarle in a report on Tuesday, February 27th. They issued a “buy” rating and a $150.00 price objective on the stock. Finally, Berenberg Bank began coverage on shares of Albemarle in a report on Tuesday, February 27th. They set a “buy” rating and a $150.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Albemarle currently has an average rating of “Buy” and an average target price of $126.98.
Several large investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. increased its position in shares of Albemarle by 49.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 9,070 shares of the specialty chemicals company’s stock valued at $1,160,000 after purchasing an additional 3,010 shares during the last quarter. Xact Kapitalforvaltning AB increased its position in shares of Albemarle by 7.9% in the 4th quarter. Xact Kapitalforvaltning AB now owns 19,210 shares of the specialty chemicals company’s stock valued at $2,457,000 after purchasing an additional 1,401 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Albemarle by 2.0% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 80,009 shares of the specialty chemicals company’s stock valued at $10,232,000 after purchasing an additional 1,576 shares during the last quarter. Stony Point Wealth Management Inc. purchased a new stake in shares of Albemarle in the 4th quarter valued at approximately $565,000. Finally, William Blair Investment Management LLC increased its position in shares of Albemarle by 13.7% in the 4th quarter. William Blair Investment Management LLC now owns 31,709 shares of the specialty chemicals company’s stock valued at $4,055,000 after purchasing an additional 3,828 shares during the last quarter. 86.44% of the stock is currently owned by institutional investors.
Shares of ALB stock traded down $0.54 during trading hours on Tuesday, hitting $98.05. The company had a trading volume of 135,816 shares, compared to its average volume of 2,285,750. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.57 and a current ratio of 2.06. Albemarle has a fifty-two week low of $86.75 and a fifty-two week high of $144.99. The firm has a market cap of $10,929.97, a P/E ratio of 21.48, a P/E/G ratio of 1.18 and a beta of 1.66.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Thursday, March 15th were given a $0.335 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This is an increase from Albemarle’s previous quarterly dividend of $0.32. This represents a $1.34 dividend on an annualized basis and a dividend yield of 1.37%. Albemarle’s dividend payout ratio is currently 29.19%.
ILLEGAL ACTIVITY WARNING: This piece of content was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark law. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/04/20/806-51-million-in-sales-expected-for-albemarle-co-alb-this-quarter-2.html.
Albemarle Company Profile
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. Its Lithium and Advanced Materials segment offers lithium compounds, including lithium carbonate, lithium hydroxide, lithium chloride, and lithium specialties, as well as reagents, such as butyllithium and lithium aluminum hydride for applications in lithium batteries for consumer electronics and automobiles, 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.
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.