Albemarle Co. (NYSE:ALB) – Stock analysts at SunTrust Banks boosted their Q2 2018 earnings per share (EPS) estimates for Albemarle in a research report issued on Thursday, May 10th. SunTrust Banks analyst J. Sheehan now anticipates that the specialty chemicals company will post earnings per share of $1.24 for the quarter, up from their prior estimate of $1.19. SunTrust Banks has a “Hold” rating and a $110.00 price objective on the stock. SunTrust Banks also issued estimates for Albemarle’s Q3 2018 earnings at $1.16 EPS, Q4 2018 earnings at $1.47 EPS and FY2020 earnings at $6.84 EPS.
ALB has been the topic of a number of other research reports. Morgan Stanley initiated coverage on shares of Albemarle in a research note on Tuesday, February 27th. They set a “buy” rating and a $150.00 target price on the stock. UBS upgraded shares of Albemarle from a “neutral” rating to a “buy” rating and lifted their target price for the company from $113.00 to $150.00 in a research note on Tuesday, January 30th. Argus lowered their target price on shares of Albemarle from $148.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, March 27th. Berenberg Bank initiated coverage on shares of Albemarle in a research note on Tuesday, February 27th. They set a “buy” rating and a $150.00 target price on the stock. Finally, Oppenheimer restated a “buy” rating on shares of Albemarle in a research note on Wednesday, January 17th. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $124.30.
Shares of Albemarle stock opened at $98.54 on Monday. 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 1-year low of $86.75 and a 1-year high of $144.99. The firm has a market cap of $11.26 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 1.22 and a beta of 1.67.
Albemarle (NYSE:ALB) last issued its quarterly earnings results on Wednesday, May 9th. The specialty chemicals company reported $1.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.10. The business had revenue of $821.60 million for the quarter, compared to analysts’ expectations of $798.20 million. Albemarle had a net margin of 4.27% and a return on equity of 13.82%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 EPS.
A number of hedge funds have recently made changes to their positions in ALB. SeaCrest Wealth Management LLC purchased a new stake in Albemarle in the 4th quarter worth $103,000. Stephens Inc. AR purchased a new stake in Albemarle in the 4th quarter worth $115,000. Dupont Capital Management Corp lifted its stake in Albemarle by 81.6% in the 1st quarter. Dupont Capital Management Corp now owns 1,358 shares of the specialty chemicals company’s stock worth $126,000 after purchasing an additional 610 shares in the last quarter. Banco de Sabadell S.A purchased a new stake in Albemarle in the 4th quarter worth $133,000. Finally, Valeo Financial Advisors LLC purchased a new stake in Albemarle in the 4th quarter worth $155,000. Institutional investors and hedge funds own 85.13% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be paid a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 1.36%. The ex-dividend date is Thursday, June 14th. Albemarle’s payout ratio is currently 29.19%.
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.
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